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GA HB934
Bill
Status
Introduced
2/18/2020
Primary Sponsor
Albert Reeves
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AI Summary
- Increases the Georgia state income tax credit for adoption of a qualified foster child from $2,000 to $6,000 per child per taxable year for the first five years following finalization of the adoption, then $2,000 per year thereafter
- Credits end when the adopted child reaches age 18
- Defines "qualified foster child" as a child under 18 in a foster home or foster care system under the Division of Family and Children Services of the Department of Human Services
- Tax credit cannot exceed the taxpayer's income tax liability for the year and cannot be carried forward or applied to prior years
- Effective July 1, 2020, applicable to adoptions occurring in taxable years beginning on or after January 1, 2020
Legislative Description
Income tax; adoption of foster children; revise tax credit
Last Action
House Committee Favorably Reported By Substitute
3/9/2020
Full Bill Text
No bill text available