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HR 930 103th Congress House Taxation Adoption Costs Employee benefit plans Families Income tax Labor and Employment Tax deductions Tax exclusion

Fairness for Adopting Families Act

Introduced: February 17, 1993 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 13, 1993
Subcommittee Hearings Held.
May 27, 1993
Referred to the Subcommittee on Select Revenue Measures.
Feb 17, 1993
Referred to the House Committee on Ways and Means.
Feb 17, 1993
Introduced in House
 Plain-English summary Congressional Research Service

Fairness for Adopting Families Act - Amends the Internal Revenue Code to permit an individual income tax deduction for qualified adoption expenses. Includes as deductible reasonable and necessary expenses that are directly related to a legal adoption of any child if the adoption has been arranged by a State, local, or other nonprofit agency, or through a private placement.

Excludes from an employee's gross income any amounts paid on behalf of the employee by an employer pursuant to a qualified adoption assistance program.

Limits both the deduction and the exclusion to $5,000 ($7,000 in the case of an international adoption). Reduces the amount when the taxpayer's income exceeds $60,000.

Permits an employer to treat an adoption assistance program as a statutory employee benefit plan, thus making the employer's contributions to such a program tax deductible as business expenses.

What's happening now July 13, 1993

Subcommittee Hearings Held.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 1 Republican 1