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MS HB1548
Bill
Status
Failed
3/28/2012
Primary Sponsor
Philip Gunn
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AI Summary
- Increases the state income tax credit for qualified adoption expenses from $2,500 to $10,000 per dependent child for adoptions finalized in calendar year 2012 or later
- Maintains the $2,500 credit limit for adoptions finalized during calendar years 2006 through 2011
- Defines "qualified adoption expenses" using the same definition as provided in Internal Revenue Code Section 36C
- Allows unused tax credits to be carried forward for three succeeding tax years
- Takes effect January 1, 2012
Legislative Description
Income tax; increase tax credit allowed for child adoption expenses.
Last Action
Died In Committee
3/28/2012
Full Bill Text
No bill text available