As introduced: All individuals are allowed a credit against the income tax imposed by the NE Revenue Act of 1967 for taxable years beginning January 1, 2013, there shall be a refundable credit for adoption and guardianship costs in the amount equal to 50% of the qualified costs paid or incurred by an individual taxpayer for the adoption or guardianship of any minor child who is a citizen or legal resident of the US and was in the custody of a public agency of either state or a political subdivision of the state, not to exceed $4,000 per minor child;
Qualified means:
a. fees for required services from either DHHS or a licensed adoption agency
b. travel and related expenses for the adoptive family or guardian that are directly related to the adoption process or guardianship
c. court costs, accountant fees, attorney’s fees and other non-recurring expenses paid for by the state that are directly related to the adoption process or guardianship
As Amended: N/A
Introducing Senator(s): Bolz, Campbell, Coash, Wallman
Committee: Revenue
Committee Hearing Date: February 1, 2013
Current Status: In committee
Estimated Fiscal Impact: $2.6 million
Voices for Children’s Position: Support
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