HB 295: AN ACT relating to an adoption tax credit. Create a new section of KRS Chapter 141 to allow an income tax credit for qualified adoption expenses incurred by an individual in an amount equal to 20% of the allowable federal credit for qualified adoption expenses; require reporting by the Department of Revenue; amend KRS 141.0205 to order the tax credit; amend various sections of KRS Chapter 131 and 141 to conform.
To Appropriations & Revenue (H)