October 1, 2012 @ 8:19 AM
The adoption community is well aware that the federal adoption tax credit expires as of January 1, 2013. Vigorous efforts have been underway by countless adoption groups to renew the credit. On September, 21, 2012 Senator Landrieu (D-LA) introduced Senate Bill 3616 to not only continue the adoption tax credit, but also make it permanent and refundable. In prior years, the credit was for only a limited period, as evidenced by its present expiration at the end of 2012. Also, for most years in which the Adoption Tax Credit has been in effect, it has been a credit against tax owed, not a full refundable tax credit. This new bill, if it passes, will make the Adoption Tax Credit both permanent and refundable. As with the earlier versions of the credit, it will apply to both independent and agency adoption, as well as international adoption. Senator Landrieu was joined by Senators Carding (D-MD), Blunt (R-MO) and Hutchison (R-TX) in introducing the legislation. Its companion bill is H.R. 4373 (the House of Representatives' version). It is reported there are not 29 co-sponsors. Adoption101.com encourages everyone who supports adoption to contact their U.S. senators and representative in the House of Representatives and request their support for the bill.