[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4765 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4765

   To amend the Internal Revenue Code of 1986 to increase the amount 
 allowable for qualified adoption expenses, to permanently extend the 
  credit for adoption expenses, and to adjust the limitations on such 
                         credit for inflation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 9, 1998

  Mr. Bliley (for himself and Mr. Gingrich) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to increase the amount 
 allowable for qualified adoption expenses, to permanently extend the 
  credit for adoption expenses, and to adjust the limitations on such 
                         credit for inflation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hope for Children Act''.

SEC. 2. ADOPTION EXPENSES.

    (a) Increase in Amounts Allowed.--
            (1) Dollar amount of allowed expenses.--Paragraph (1) of 
        section 23(b) of the Internal Revenue Code of 1986 (relating to 
        dollar limitation) is amended by striking ``$5,000'' and all 
        that follows and inserting ``$10,000.''.
            (2) Phase-out limitation.--Clause (i) of section 
        23(b)(2)(A) of such Code (relating to income limitation) is 
        amended by striking ``$75,000'' and inserting ``$150,000''.
    (b) Repeal of Sunset on Children Without Special Needs.--Paragraph 
(2) of section 23(d) of such Code (relating to definition of eligible 
child) is amended to read as follows:
            ``(2) Eligible child.--The term `eligible child' means any 
        individual who--
                    ``(A) has not attained age 18, or
                    ``(B) is physically or mentally incapable of caring 
                for himself.''.
    (c) Adjustment of Dollar and Income Limitations For Inflation.--
Section 23 of such Code is amended by redesignating subsection (h) as 
subsection (i) and by inserting after subsection (g) the following new 
subsection:
    ``(h) Adjustments for Inflation.--In the case of a taxable year 
beginning after December 31, 1999, each of the dollar amounts in 
subsections (b)(1) and (b)(2)(A)(i) shall be increased by an amount 
equal to--
            ``(1) such dollar amount, multiplied by
            ``(2) the cost-of-living adjustment determined under 
        section 1(f)(3) for the calendar year in which the taxable year 
        begins, determined by substituting `calendar year 1998' for 
        `calendar year 1992' in subparagraph (B) thereof.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1998.
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