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This bill reads:
To amend the Internal Revenue Code of 1986 to provide for a refundable adoption tax credit.
IN THE SENATE OF THE UNITED STATES
APRIL 15, 2021
Mr. CASEY (for himself, Mr. BLUNT, Mr. VAN HOLLEN, Mr. WICKER, Mrs. GILLIBRAND, Mr. BOOZMAN, Ms. KLOBUCHAR, Mr. HAWLEY, Ms. DUCKWORTH, Mr. INHOFE, Ms. ROSEN, Mr. RISCH, Ms. WARREN, Mr. ROUNDS, Mr. MERKLEY, and Mr. LANKFORD) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to provide for a refundable adoption tax credit.
Be it enacted by the Senate and House of Representa- tives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Adoption Tax Credit Refundability Act of 2021’’.
SEC. 2. REFUNDABLE ADOPTION TAX CREDIT.
(a) CREDIT MADE REFUNDABLE.—
(1) CREDIT MOVED TO SUBPART RELATING TO
REFUNDABLE CREDITS.—The Internal Revenue Code of 1986 is amended—
(A) by redesignating section 23 as section 36C, and
(B) by moving section 36C (as so redesig- nated) from subpart A of part IV of subchapter A of chapter 1 to the location immediately be- fore section 37 in subpart C of part IV of sub- chapter A of chapter 1.
(2) CONFORMING AMENDMENTS.—
(A) Section 25(e)(1)(C) of such Code is amended by striking ‘‘sections 23 and 25D’’ and inserting ‘‘section 25D’’.
(B) Section 36C of such Code, as so redes- ignated, is amended—
(i) in subsection (b)(2)(A), by striking ‘‘(determined without regard to subsection (c))’’,
(ii) by striking subsection (c), and
(iii) by redesignating subsections (d) through (i) as subsections (c) through (h), respectively.
(C) Section 137 of such Code is amended—
(i) in subsection (d), by striking ‘‘sec-
tion 23(d)’’ and inserting ‘‘section 36C(c)’’, and
(ii) in subsection (e), by striking ‘‘sub- sections (e), (f), and (g) of section 23’’ and inserting ‘‘subsections (d), (e), and (f) of section 36C’’.
(D) Section 1016(a)(26) of such Code is
amended by striking ‘‘23(g)’’ and inserting ‘‘36C(f)’’.
(E) Section 6211(b)(4)(A) of such Code is amended by inserting ‘‘36C,’’ after ‘‘36B,’’.
(F) The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by striking the item relating to section 23.
(G) Paragraph (2) of section 1324(b) of title 31, United States Code, is amended by in- serting ‘‘36C,’’ after ‘‘36B,’’.
(H) Paragraph (33) of section 471(a) of the Social Security Act (42 U.S.C. 671(a)) is amended by striking ‘‘section 23’’ and inserting ‘‘section 36C’’.
(I) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section the following new item: ‘‘Sec. 36C. Adoption expenses.’’.
(b) THIRD-PARTY AFFIDAVITS.—Section 36C(h) of the Internal Revenue Code of 1986, as redesignated and moved by subsection (a), is amended—
(1) by striking ‘‘such regulations’’ and inserting ‘‘such regulations and guidance’’,
(2) by striking ‘‘including regulations which treat’’ and inserting ‘‘including regulations and guidance which—
‘‘(1) treat’’,
(3) by striking the period at the end and insert- ing ‘‘, and’’, and
(4) by adding at the end the following:
‘‘(2) provide for a standardized third-party affidavit for purposes of verifying a legal adoption—
‘‘(A) of a type with respect to which quali- fied adoption expenses may be paid or incurred, or
‘‘(B) involving a child with special needs for purposes of subsection (a)(3).’’.
(c) EFFECTIVE DATE.—The amendments made by
this
December 31, 2020.
section shall apply to taxable years beginning after
(d) TRANSITIONAL RULE TO TREAT CARRYFORWARD AS REFUNDABLE CREDIT.—In the case of any excess described in section 23(c) of the Internal Revenue Code of 1986 with respect to any taxpayer for the taxable year which precedes the first taxable year to which the amendments made by this section apply, such excess shall be added to the credit allowable under section 36C(a) of such Code with respect to such taxpayer for such first taxable year.
This bill was introduced to the Senate on April 15th, 2021 and was referred to the Committee on Finance where it has sat.
Adoption Healing and Resources 