HR 4313
110th CONGRESS
1st Session
H. R. 4313
To amend the Internal Revenue Code of 1986 to allow an additional
credit against income tax for the adoption of an older child.
IN THE HOUSE OF REPRESENTATIVES
December 6, 2007
Ms. BEAN (for herself, Mr. ELLISON, Mrs. MCCARTHY of New York, Ms. NORTON,
Mr. COHEN, Ms. BERKLEY, Mr. SHERMAN, Mr. CARNEY, Mr. TOWNS, Mr. DONNELLY,
Mr. BARROW, and Mr. BOSWELL) introduced the following bill; which was
referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to allow an additional
credit against income tax for the adoption of an older child.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Advocates Dedicated to Older Child Parental
Tax Credit (ADOPT) Act of 2007'.
SEC. 2. OLDER CHILD ADOPTION TAX CREDIT.
(a) In General- Subsection (a) of section 23 of the Internal Revenue Code
of 1986 (relating to adoption expenses) is amended by inserting at the
end the following new paragraph:
`(4) CREDIT FOR ADOPTION OF QUALIFIED OLDER CHILD REGARDLESS OF EXPENSES-
In the case of an adoption of a qualified older child by a taxpayer
which becomes final during a taxable year, the taxpayer shall be treated
as having paid, for each taxable year during the older child credit
allowance period, qualified adoption expenses with respect to such adoption
in an amount equal to $2,000.'.
(b) Dollar Limitation Not Applicable- Subsection (b)(1) of such section
of such Code is amended by inserting `(without regard to paragraph (4)
of such subsection)' after `subsection (a)'.
(c) Income Limitation Not Applicable- Subsection (b)(2)(A) of such section
of such Code is amended by inserting `paragraph (4) of such subsection
and' before `subsection (c)'.
(d) Definitions- Subsection (d) of such section of such Code is amended
by inserting at the end the following new paragraphs:
`(4) QUALIFIED OLDER CHILD- The term `qualified older child' means an
eligible child who has attained age 9 on or before the date on which
the legal adoption of such child by the taxpayer becomes final.
`(5) OLDER CHILD CREDIT ALLOWANCE PERIOD- In the case of an adoption
of a qualified older child by a taxpayer, the term `older child credit
allowance period' means the taxable years--
`(A) beginning after the taxable year during which the adoption of
the qualified older child by the taxpayer becomes final, and
`(B) ending before the taxable year during which the qualified older
child has attained age 19.'.
(e) Adjustments for Inflation- Subsection (h) of such section of such
Code is amended--
(1) by striking `subsection (a)(3)' and inserting `paragraphs (3) and
(4) of subsection (a)', and
(2) by amending paragraph (2) to read as follows:
`(2) the cost-of-living adjustment determined under section 1(f)(3)
for the calendar year in which the taxable year begins, determined--
`(A) in the case of the dollar amounts in subsection (a)(3) and paragraphs
(1) and (2)(A)(i) of subsection (b), by substituting `calendar year
2001' for `calendar year 1992' in subparagraph (B) thereof, and
`(B) in the case of the dollar amount in subsection (a)(4), by substituting
`calendar year 2007' for `calendar year 1992' in subparagraph (B)
of such section 1(f)(3).'.
(f) Effective Date- The amendments made by this section shall apply to
taxable years beginning after December 31, 2007.
END
