House approves legislation to give families adopting children three and under a $5,000 tax credit

SHARE NOW

Legislation that would provide families adopting a child under the age of three with a $5 thousand tax credit was approved by a full House in a 97 to 0 vote. Bill author, Baton Rouge Representative Rick Edmonds says he hopes this will alleviate some of the financial burden for adoptive families.

“It’s extremely expensive to adopt a child so anything we can do to help grandparents, family members, young couples, or older couples have the opportunity to adopt a child that’s exactly what this bill does.”

Under the legislation, if the $5,000 credit exceeds the adoptive family’s tax liability, the state would give the family the balance of that money the year the adoption takes place. Edmonds says it’s about helping families help children.

“It’s a start. It’s an opportunity to help children and to help them grow up in the type of family environment that I believe and you believe will change their lives forever.”

The bill also prohibits the tax credit from applying to the adoption of a child from foster care and prohibits a taxpayer from claiming the credit and claiming the deduction.

“You can get a deduction but this would give them a direct credit but you couldn’t get both. The bill states one or the other.”

The bill heads to the Senate.

Leave a Reply

Your email address will not be published. Required fields are marked *