TABLE OF CONTENTS:
Title I: Credit for Adoption Expenses
Title II: Interethnic Adoption
Title IV (sic): Revenue Offsets
Adoption Promotion and Stability Act of 1996 - Title I: Credit for Adoption Expenses - Amends the Internal Revenue Code to allow for a limited adoption credit of up to $5,000 ($6,000, in the case of a child with special needs). Excludes from an employee's gross income up to $5,000 ($6,000, in the case of a child with special needs) of amounts paid by the employer for adoption expenses. Prohibits a double benefit. Mandates a study concerning such credit and exclusion.
Title II: Interethnic Adoption - Amends part E of title IV (Foster Care and Adoption Assistance) of the Social Security Act to prohibit any State or entity receiving Federal adoption or foster care assistance from limiting an adoption because of race, color, or national origin.
Title IV (sic): Revenue Offsets - Amends the Internal Revenue Code to: (1) repeal the reserve method of accounting for bad debts by thrift institutions; and (2) revise the income forecast method of determining depreciation deductions.
Considered under the provisions of rule H. Res. 428. (consideration: CR H4775-4785)
Rule provides for consideration of H.R. 3286. Providing for the consideration of the bill in the House without intervention of any point of order. The amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted. The previous question shall be considered as ordered on the bill, as amended, and on any further amendment thereto to final passage without intervening motion except: 1. One hour of debate on the bill, as amended; 2. an amendment to title II of the billl, as amended, if offered by Representative Gibbons, debatable for 30 minutes; 3. the amendment recommended by the Committee on Resources, if offered by Representative Young (AK), debatable for 30 minutes; 4. one motion to recommit, which may include instructions only if offered by the Minority Leader or his designee.
DEBATE - The House proceeded with one hour of debate.
UNFINISHED BUSINESS - Pursuant to the order of the House from earlier in the day, further proceedings on H.R. 3286 will continue on Friday, May 10, 1996.
Considered as unfinished business. (consideration: CR H4807-4822)
DEBATE - Pursuant to the provisions of H. Res. 428, the House proceeded with one hour of debate on the Young (AK) amendment.
The previous question was ordered pursuant to the rule.
Passed/agreed to in House: On passage Passed by recorded vote: 393 - 15 (Roll no. 165).
Roll Call #165 (House)On passage Passed by recorded vote: 393 - 15 (Roll no. 165).
Roll Call #165 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and read twice and referred to the Committee on Finance.
Ordered, if and when reported by the Committee on Finance the bill then be referred to the Committee on Indian Affairs for the purpose of considering Title 3, for a period of 10 days of session, to report or be discharged.
Committee on Finance. Ordered to be reported with amendments favorably.
Committee on Finance. Reported to Senate by Senator Roth with amendments. With written report No. 104-279.
Committee on Finance. Reported to Senate by Senator Roth with amendments. With written report No. 104-279.
Referred to the Committee on Indian Affairs pursuant to the order of May 23, 1996.
Committee on Indian Affairs. Ordered to be reported with an amendment favorably. Committee ordered favorably reported Title III of the bill.
Committee on Indian Affairs. Reported to Senate by Senator McCain with an amendment. With written report No. 104-288.
Committee on Indian Affairs. Reported to Senate by Senator McCain with an amendment. With written report No. 104-288.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 454.
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