House Bill No. by Representative McFarland aims to enhance tax benefits related to the adoption of children from foster care and donations to foster care charitable organizations. The bill amends existing laws to provide a tax deduction for adopting children from foster care and a tax credit for donations made to qualifying foster care charitable organizations. It allows the Secretary of the Department of Revenue to create rules for the implementation of these provisions, including the possibility of an alternative process for certification of eligibility for the tax deduction if the current process is deemed burdensome.

Additionally, the bill simplifies the qualification process for foster care charitable organizations by automatically designating any nonprofit foster care organization licensed by the Department of Children and Family Services as a qualifying organization, eliminating the need for a separate application. It also modifies the requirements for receipts that taxpayers must provide when claiming the tax credit, specifying the necessary content instead of mandating a standardized format. The provisions of this bill will take effect for taxable periods beginning on or after January 1, 2025.

Statutes affected:
HB238 Original: 47:20(C), 47:6042(B)