Bills › 90th General Assembly
Relating to the adoption tax credit available against the individual income tax, and including effective date and retroactive applicability provisions
Topics:TaxesIncome taxesTax credits & incentives
Same legislation: HF 2637
Where it is now
- Done: IntroducedJanuary 31, 2024
- Done: SubcommitteeFebruary 8, 2024
- Done: House committeeFebruary 28, 2024
- Done: Passes the HouseMarch 11, 202499–0
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 2637 → Its progress continues under the new number. Go to HF 2637 What’s a funnel?
What’s in it
This bill relates to the adoption tax credit available against the individual income tax. Currently, the tax credit equals up to $5,000 of qualified adoption expenses per adoption. The bill increases the tax credit to equal up to $20,000 of qualified adoption expenses per adoption. Any credit in excess of the tax liability is refundable. “Qualified adoption expenses” means unreimbursed expenses paid or incurred in connection with the adoption of a child, including medical and hospital expenses of the biological mother which are incident to the child’s birth, welfare agency fees, legal fees, and all other fees and costs which relate to the adoption of a child.
Read the full explanation
“Child” means an individual under years of age.12A(4) determines the tax year when qualified adoption expenses are allowed. The bill takes effect upon enactment and applies retroactively to tax years beginning on or after January 1, 2023, for adoptions finalized on or after that date.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
House subcommittee
Named February 8, 2024. On February 22, 2024 it recommended passage. Vote Total: 3-0.
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
House File 2637 is projected to decrease net General Fund revenue by the following amounts: • FY 2025 = $4.4 million • FY 2026 = $2.3 million • FY 2027 = $2.4 million • FY 2028 = $2.5 million • FY 2029 = $2.5 million • FY 2030 = $2.5 million
- Adoption Tax Credit, Amount · March 4, 2024
Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note
Iowa Code it changes
Amends§422.12A
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
7 for · 0 against · 3 undecided · Who →
Family tree
Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.
90th General Assembly
Picked up later
Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.
Similar bills
- HF 1026 Relating to the adoption tax credit available against the individual income tax, and inclu…91st General Assembly · Passed HouseNearly identical
Matched by the wording of each bill’s explanation, or an identical title. Companion bills and renumbered versions of this bill aren’t listed; they’re the same bill.