Rep. Turner helps create a state tax credit for adoptive families
STATEHOUSE – A bill co-authored by State Representative P. Eric Turner (R-Cicero) providing a state tax credit for individuals that adopt a child is heading to the governor’s desk after being concurred on by the House.
House Bill (HB) 1222 would provide an adjusted gross income tax credit starting in 2015 for individuals that qualify for the federal adoption credit. Qualifying Hoosiers would be eligible for a state tax credit equal to the lessor of either 10 percent of the qualifying federal adoption credit amount claimed on their federal income tax return or $1,000 per child.
“I want more Hoosiers to have the opportunity to experience the joy of adoption,” said Rep. Turner. “This bill is a step in that direction by lessening the financial burden on families who have made the bold and life changing decision to adopt a child.”
The Federal Adoption Tax Credit was created to offset the costs associated with the adoption process like adoption fees, court costs, attorney fees and numerous other expenses. A state credit like the one proposed in HB 1222 would help to further offset those expenses.
HB 1222 would also establish the Interim Committee on Adoption, a nine-member committee appointed by the governor that would study the relationships between state programs and private, faith-based and community organizations in other states in order to draft recommendations for improving adoption programs in Indiana. A report with the committee’s findings and recommendations would be sent to the governor, the Indiana Department of Child Services and the Legislative Council.
“We need to ensure that we are doing everything possible to give children a safe and loving environment to be raised in,” Rep. Turner said. “By adopting a child, Hoosiers are extending that warmth and love.”
HB 1222 will now be sent to the governor to be signed into law.