Relating to the adoption tax credit available against the individual income tax

Where it is now

1. ✓
   Done: IntroducedJanuary 15, 2021
2. ✓
   Done: SubcommitteeJanuary 20, 2021
3. ✓
   Done: House committeeFebruary 2, 2021
4. –
   Skipped: Passes the HouseContinued as HF 369
5. Next: Senate committee
6. Next: Passes the Senate
7. Next: To the Governor
8. Next: Signed into law

Became HF 369 → Its progress continues under the new number. Go to HF 369 What’s a funnel?

What’s in it

This bill relates to the adoption tax credit available against the individual income tax. Currently, the adoption tax credit equals the amount of qualified adoption expenses paid or incurred by the taxpayer in connection with the adoption of a child, not to exceed $5,000 per adoption. The bill phases in an increase to the maximum amount of the adoption tax credit as follows: for the tax year beginning January 1, 2022, the maximum amount of the adoption tax credit increases from $5,000 per adoption to $7,500 per adoption; and for tax years beginning on or after January 1, 2023, the maximum amount of the tax credit increases from $7,500 per adoption to $10,000 per adoption.

Full bill text¹

House subcommittee

Named January 20, 2021. On January 26, 2021 it recommended passage.

• Rep. Joe Mitchell R
• Rep. Timi Brown-Powers DEmail
• Rep. Megan Jones REmail

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Fiscal note

The proposed increases in the maximum amount of the refundable Adoption Tax Credit are projected to reduce net General Fund revenue by $310,000 in FY 2023 and $625,000 in FY 2024 and after. Fiscal Note Fiscal Services Division 2 Source Department of Revenue /s/ Holly M. Lyons February 8, 2021 Doc ID 1211783 The fiscal note for this Bill was prepared pursuant to Joint Rule 17 and the Iowa Code.

• Adoption Tax Credit · February 8, 2021

Reading a fiscal note²

Family tree

Earlier and later bills are matched by wording or an identical title.

Similar bills

• HF 351 Relating to the adoption tax credit available against the individual income tax
  90th General Assembly · Passed House
  Nearly identical

Matched by wording or an identical title.