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Adoption Tax Credit Refundability Act of 2017

S. 937 · 115th Congress · Apr 25, 2017 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to provide for a refundable adoption tax credit.

Section 1 Short title

This Act may be cited as the “Adoption Tax Credit Refundability Act of 2017”.

Sec. 2 Refundable adoption tax credit

(a)
Credit made refundable—
(1)
Credit moved to subpart relating to refundable credits— The Internal Revenue Code of 1986 is amended—
(A)
by redesignating section 23 as section 36C; and
(B)
by moving section 36C (as so redesignated) from subpart A of part IV of subchapter A of chapter 1 to the location immediately before section 37 in subpart C of part IV of subchapter A of chapter 1.
(2)
Conforming Amendments—
(A)
Section 25(e)(1)(C) of such Code is amended by striking “23, 25D,” and inserting “25D”.
(B)
Section 36C of such Code, as so redesignated, is amended—
(i)
in subsection (b)(2)(A), by striking “(determined without regard to subsection (c))”;
(ii)
by striking subsection (c); and
(iii)
by redesignating subsections (d) through (i) as subsections (c) through (h), respectively.
(C)
Section 137 of such Code is amended—
(i)
in subsection (d), by striking “section 23(d)” and inserting “section 36C(c)”; and
(ii)
in subsection (e), by striking “subsections (e), (f), and (g) of section 23” and inserting “subsections (d), (e), and (f) of section 36C”.
(D)
Section 1016(a)(26) is amended by striking “23(g)” and inserting “36C(f)”.
(E)
Section 6211(b)(4)(A) of such Code is amended by inserting “36C,” after “36B”.
(F)
The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code of 1986 is amended by striking the item relating to section 23.
(G)
Paragraph (2) of section 1324(b) of title 31, United States Code, as amended by this Act, is amended by inserting “36C,” after “36B,”.
(H)
The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, as amended by this Act, is amended by inserting after the item relating to section 36B the following new item:
(b)
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2016.