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NY S09886
Bill
Status
Introduced
8/2/2024
Primary Sponsor
Jacob Ashby
Click for details
AI Summary
- Creates an adoption tax credit for resident taxpayers equal to 50% of qualified adoption expenses or $10,000, whichever is less
- Defines "qualified adoption expenses" to include adoption fees, court costs, attorneys' fees, and other expenses directly related to legal adoption of a child
- Allows excess credits exceeding a taxpayer's annual tax liability to be treated as overpayments and refunded without interest
- Applies to taxable years beginning on and after January 1, 2025
- Takes effect immediately upon enactment
Legislative Description
Creates an adoption tax credit in the amount of fifty percent of qualified adoption expenses, or ten thousand dollars, whichever is less.
Last Action
REFERRED TO RULES
8/2/2024
Committee Referrals
Rules8/2/2024
Full Bill Text
No bill text available