Us Congress 2023-2024 Regular Session

Us Congress House Bill HB3662 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	118THCONGRESS
3	3	1
4	4	STSESSION H. R. 3662
5	5	To amend the Internal Revenue Code of 1986 to provide for a refundable
6	6	adoption tax credit.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	MAY25, 2023
9	9	Mr. D
10	10	AVISof Illinois (for himself, Mr. MOOREof Utah, Ms. MOOREof Wis-
11	11	consin, Mr. F
12	12	EENSTRA, Mr. BACON, Ms. KAMLAGER-DOVE, and Ms.
13	13	S
14	14	CANLON) introduced the following bill; which was referred to the Com-
15	15	mittee on Ways and Means
16	16	A BILL
17	17	To amend the Internal Revenue Code of 1986 to provide
18	18	for a refundable adoption tax credit.
19	19	Be it enacted by the Senate and House of Representa-1
20	20	tives of the United States of America in Congress assembled, 2
21	21	SECTION 1. SHORT TITLE. 3
22	22	This Act may be cited as the ‘‘Adoption Tax Credit 4
23	23	Refundability Act of 2023’’. 5
24	24	SEC. 2. REFUNDABLE ADOPTION TAX CREDIT. 6
25	25	(a) C
26	26	REDITMADEREFUNDABLE.— 7
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29	29	•HR 3662 IH
30	30	(1) CREDIT MOVED TO SUBPART RELATING TO 1
31	31	REFUNDABLE CREDITS .—The Internal Revenue 2
32	32	Code of 1986 is amended— 3
33	33	(A) by redesignating section 23 as section 4
34	34	36C, and 5
35	35	(B) by moving section 36C (as so redesig-6
36	36	nated) from subpart A of part IV of subchapter 7
37	37	A of chapter 1 to the location immediately be-8
38	38	fore section 37 in subpart C of part IV of sub-9
39	39	chapter A of chapter 1. 10
40	40	(2) C
41	41	ONFORMING AMENDMENTS .— 11
42	42	(A) Section 25(e)(1)(C) of such Code is 12
43	43	amended by striking ‘‘sections 23 and 25D’’ 13
44	44	and inserting ‘‘section 25D’’. 14
45	45	(B) Section 36C of such Code, as so redes-15
46	46	ignated, is amended— 16
47	47	(i) in subsection (b)(2)(A), by striking 17
48	48	‘‘(determined without regard to subsection 18
49	49	(c))’’, 19
50	50	(ii) by striking subsection (c), and 20
51	51	(iii) by redesignating subsections (d) 21
52	52	through (i) as subsections (c) through (h), 22
53	53	respectively. 23
54	54	(C) Section 137 of such Code is amend-24
55	55	ed— 25
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58	58	•HR 3662 IH
59	59	(i) in subsection (d), by striking ‘‘sec-1
60	60	tion 23(d)’’ and inserting ‘‘section 2
61	61	36C(c)’’, and 3
62	62	(ii) in subsection (e), by striking ‘‘sub-4
63	63	sections (e), (f), and (g) of section 23’’ and 5
64	64	inserting ‘‘subsections (d), (e), and (f) of 6
65	65	section 36C’’. 7
66	66	(D) Section 1016(a)(26) of such Code is 8
67	67	amended by striking ‘‘23(g)’’ and inserting 9
68	68	‘‘36C(f)’’. 10
69	69	(E) Section 6211(b)(4)(A) of such Code is 11
70	70	amended by inserting ‘‘36C,’’ after ‘‘36B,’’. 12
71	71	(F) The table of sections for subpart A of 13
72	72	part IV of subchapter A of chapter 1 of such 14
73	73	Code is amended by striking the item relating 15
74	74	to section 23. 16
75	75	(G) Paragraph (2) of section 1324(b) of 17
76	76	title 31, United States Code, is amended by in-18
77	77	serting ‘‘36C,’’ after ‘‘36B,’’. 19
78	78	(H) Paragraph (33) of section 471(a) of 20
79	79	the Social Security Act (42 U.S.C. 671(a)) is 21
80	80	amended by striking ‘‘section 23’’ and inserting 22
81	81	‘‘section 36C’’. 23
82	82	(I) The table of sections for subpart C of 24
83	83	part IV of subchapter A of chapter 1 of the In-25
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86	86	•HR 3662 IH
87	87	ternal Revenue Code of 1986 is amended by in-1
88	88	serting after the item relating to section 36B 2
89	89	the following new item: 3
90	90	‘‘Sec. 36C. Adoption expenses.’’.
91	91	(b) THIRD-PARTYAFFIDAVITS.—Section 36C(h) of 4
92	92	the Internal Revenue Code of 1986, as redesignated and 5
93	93	moved by subsection (a), is amended— 6
94	94	(1) by striking ‘‘such regulations’’ and inserting 7
95	95	‘‘such regulations and guidance’’, 8
96	96	(2) by striking ‘‘including regulations which 9
97	97	treat’’ and inserting ‘‘including regulations and 10
98	98	guidance which— 11
99	99	‘‘(1) treat’’, 12
100	100	(3) by striking the period at the end and insert-13
101	101	ing ‘‘, and’’, and 14
102	102	(4) by adding at the end the following: 15
103	103	‘‘(2) provide for a standardized third-party affi-16
104	104	davit for purposes of verifying a legal adoption— 17
105	105	‘‘(A) of a type with respect to which quali-18
106	106	fied adoption expenses may be paid or incurred, 19
107	107	or 20
108	108	‘‘(B) involving a child with special needs 21
109	109	for purposes of subsection (a)(3).’’. 22
110	110	(c) E
111	111	FFECTIVEDATE.—The amendments made by 23
112	112	this section shall apply to taxable years beginning after 24
113	113	December 31, 2023. 25
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116	116	•HR 3662 IH
117	117	(d) TRANSITIONALRULETOTREATCARRYFORWARD 1
118	118	ASREFUNDABLECREDIT.—In the case of any excess de-2
119	119	scribed in section 23(c) of the Internal Revenue Code of 3
120	120	1986 with respect to any taxpayer for the taxable year 4
121	121	which precedes the first taxable year to which the amend-5
122	122	ments made by this section apply, such excess shall be 6
123	123	added to the credit allowable under section 36C(a) of such 7
124	124	Code with respect to such taxpayer for such first taxable 8
125	125	year. 9
126	126	Æ
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