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Download Zipped Introduced WP 6.1 HB0303.zip
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This bill allows an income tax credit of $2,500 for people who adopt or become guardians of certain children in custody of the Division of Child and Family Services after January 1, 1998. The impact on the Uniform School Fund would not be felt until FY 1999, when an estimated 133 would claim additional tax credits of about $332,500. Additional expenditures are mainly for training, support, and counseling of the child and the parents by the Department of Human Services, as well as some additional Attorney General support and Tax Commission programming costs. These costs are estimated at $790,100 in FY 1998 and $747,600 in FY 1999.
| FY 98 Approp. | FY 99 Approp. | FY 98 Revenue | FY 99 Revenue | |
| General Fund | $614,900 | $612,900 | $0 | $0 |
| Uniform School Fund | $40,500 | $0 | $0 | ($332,500) |
| Federal Funds | $76,300 | $76,300 | $0 | $0 |
| Transfers | $58,400 | $58,400 | $0 | $0 |
| TOTAL | $790,100 | $747,600 | $0 | ($332,500) |
Office of the Legislative Fiscal Analyst
2/24/97 6:07:46 p.m.
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