109 HR 6180 IH: Older Kids Act of U.S. House of Representatives 2006-09-26 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 2d Session H. R. 6180 IN THE HOUSE OF REPRESENTATIVES September 26, 2006 Ms. Ginny Brown-Waite of Florida (for herself, Mr. Paul, Mr. Ford, and Mr. Oberstar) 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 income limitation with respect to the credit against tax for qualified adoption expenses and to increase the dollar limitation with respect to such credit in the case of an adoption of a child with special needs or a child age 9 or older.

1.

Short title

This Act may be cited as the Older Kids Act of 2006.

2.

Increase in limitations with respect to credit against tax for qualified adoption expenses

(a)

Credit limitation increase for adoption of child with special needs or child age 9 or older

(1)

In general

Section 23(a) of the Internal Revenue Code of 1986 (relating to allowance of credit) is amended by adding at the end the following new paragraph: (4)

Adoption of child with special needs or child age 9 or older

In the case of the adoption of a child with special needs which becomes final in a taxable year or the adoption of a child which becomes final in a taxable year during which the child has attained age 9— (A)subsection (b)(1) shall be applied by substituting $20,000 for $10,000, and (B)to the extent that qualified adoption expenses exceed $10,000 and are paid or incurred before the taxable year in which such adoption becomes final, such expenses shall be taken into account under this section as if such expenses were paid or incurred during the taxable year in which such adoption becomes final. . (2)

Exception for foreign adoptions

Section 23(e) of such Code is amended by striking and at the end of paragraph (1), by striking the period at the end of paragraph (2) and inserting , and, and by adding at the end the following new paragraph: (3)subsection (a)(4) shall not apply. . (b)

Income limitation increase

Section 23(b)(2)(A) of such Code is amended— (1)in clause (i), by striking $150,000 and inserting $500,000, and (2)in clause (ii), by striking $40,000 and inserting $100,000. (c)

Conforming amendment

Section 23(f) of such Code is amended by striking subsection (a)(3) and inserting paragraphs (3) and (4) of subsection (a). (d)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2006.