To amend the Internal Revenue Code of 1986 to provide that the credit for adoption expenses shall be permanent and to repeal the 5-year limitation on carryforwards of unused credit.

January 25, 2005

Mr. PLATTS introduced the following bill; which was referred to the Committee on Ways and Means

To amend the Internal Revenue Code of 1986 to provide that the credit for adoption expenses shall be permanent and to repeal the 5-year limitation on carryforwards of unused credit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. ADOPTION EXPENSE CREDIT MADE PERMANENT; REPEAL OF CARRYFORWARD LIMIT.

(a) Credit Made Permanent- Title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 shall not apply to the amendments made by section 202 of such Act.

(b) Repeal of Carryforward Limit-

(1) IN GENERAL- Subsection (c) of section 23 of such Code is amended by striking the last 2 sentences.

(2) EFFECTIVE DATE- The amendment made by paragraph (1) shall apply to taxable years beginning after the date of the enactment of this Act.

END