Tax Credit Pre-adoption Leave
| Type | Bill |
|---|---|
| Session | 2023 Regular Session |
| Subjects |
Concerning an income tax credit for an employer related to an employee's paid leave of absence for the purpose of adopting a child.
Bill Summary:
Beginning January 1, 2024, an employer is allowed an income tax credit in an amount equal to 50% of the employer's expenses incurred from voluntarily paying:
- An employee during a period of leave for the purpose of adopting a child; and
- For temporary replacement help, if any, during an employee's pre-adoption.
The maximum amount of pre-adoption leave for which an employer can claim the credit is 12 weeks per employee. To be eligible for the credit, an employer must have a written policy offering pre-adoption leave. The credit is limited to pre-adoption leave for employees who have been employed for at least one year and who for the preceding year earned less than $80,000. The credit does not include the cost of any compensation in addition to wages that an employer pays or provides to an employee.
(Note: This summary applies to this bill as introduced.)
Prime Sponsors
Representative
Ryan Armagost
Committees
House
Finance
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 01/09/2023 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Postpone House Bill 23-1046 indefinitely. | The motion passed on a vote of 7-0. | Vote summary |
| Activity | Vote | Documents |
|---|
| Date | Location | Action |
|---|---|---|
| 03/02/2023 | House | House Committee on Finance Postpone Indefinitely |
| 02/06/2023 | House | House Committee on Finance Witness Testimony and/or Committee Discussion Only |
| 01/09/2023 | House | Introduced In House - Assigned to Finance |