Provides for a deduction against personal gross income in an amount equal to fees, costs and expenses paid or incurred including legal fees and agency costs in connection with the adoption of a child.
BILL NUMBER:S2761 REVISED 05/24/11
TITLE OF BILL: An act to amend the tax law, in relation to providing for a deduction from personal gross income for expenses incurred in the adoption of a child
PURPOSE: To allow those who adopt a child to deduct from their gross income tax, any and all costs incurred in legal fees, agency costs, etc. in the adoption proceedings.
JUSTIFICATION: Expenses incurred for adoption services should not be taxable. This bill would delete those actual expenses from gross income.
SUMMARY OF SPECIFIC PROVISIONS: This bill will amend subsection (c) of § 612 of the Tax Law. Paragraph 39 is added to allow the amount of adoption agency fees, medical fees, legal fees, court costs, and other related expenses associated with adoption proceedings paid by a taxpayer to be deducted from personal gross income expenses incurred in the adoption of a child.
LEGISLATIVE HISTORY: A.567 of 1992 A.3864 of 1993-1994 S.2729 of 2001-2002 S.3853 of 2003-2004 S.2240 of 2005-2006 S.2851/A.5361 of 2007-2008 2009-10: S.5256/A.6060 (Errigo) - Referred to Senate Investigations & Govt. Operations/Assembly Ways and Means
FISCAL IMPLICATIONS: To be determined.
EFFECTIVE DATE: This act shall take effect immediately and shall apply to all taxable years beginning on or after the first day of January in the year in which it shall have become law.
STATE OF NEW YORK ________________________________________________________________________ 2761 2011-2012 Regular Sessions IN SENATE February 1, 2011 ___________Introduced by Sen. HASSELL-THOMPSON -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to providing for a deduction from personal gross income for expenses incurred in the adoption of a child THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 39 to read as follows: (39) THE AMOUNT OF ADOPTION AGENCY FEES AND ANY AND ALL MEDICAL AND LEGAL FEES, COURT COSTS AND ANY OTHER RELATED EXPENSES PAID OR INCURRED BY A TAXPAYER DURING THE TAXABLE YEAR IN CONNECTION WITH THE ADOPTION OF A CHILD. S 2. This act shall take effect immediately and shall apply to all taxable years beginning on or after the first of January in the year in which it shall have become a law.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06445-01-1