OH HB206

Increases the adoption tax credit from $1,000 to $5,000 per minor child legally adopted by a taxpayer.

Allows taxpayers to claim the greater of $5,000 or actual adoption expenses incurred (up to $10,000 maximum).

Makes the adoption credit refundable and allows unused credits to carry forward up to five taxable years.

Repositions the adoption credit in the tax credit order under section 5747.98 to be claimed after other specified credits, including as a refundable credit at the end of the sequence.

Applies to taxable years ending on or after the effective date of the act.