S.1599 - Foster Care Tax Credit Act116th Congress (2019-2020)
|Sponsor:||Sen. Kaine, Tim [D-VA] (Introduced 05/22/2019)|
|Committees:||Senate - Finance|
|Latest Action:||05/22/2019 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3062) (All Actions)|
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Summary: S.1599 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (05/22/2019)
Foster Care Tax Credit Act
This bill allows eligible taxpayers an income-based tax credit equal to $850 in a taxable year for the care of a qualifying foster child. An eligible taxpayer is a taxpayer with whom a foster child was placed for not less than one month in the taxable year and for whom a child tax credit is not allowed for such taxable year. A qualifying foster child is a foster child who is under age 17 and is a citizen, national, or resident of the United States.
The bill requires certain information reporting for foster child placements and a study and report on emergency and short-term foster placements.