A bill to amend the Internal Revenue Code of 1986 to create a tax credit for foster families.
Foster Care Tax Credit Act - Amends the Internal Revenue Code to allow a partially refundable tax credit for each qualifying foster child who resides in the home of an eligible taxpayer for at least one calendar month during the taxable year. Defines "qualifying foster child" as a child in foster care who has not attained age 17, who is a citizen, national, or resident of the United States, and with respect to whom the child tax credit is not allowable. Requires the name and taxpayer identification number of a foster child to be included on the taxpayer's tax return.
Directs the Secretary of Health and Human Services (HHS) to identify provisions in the Internal Revenue Code that can benefit foster families and increase outreach efforts to inform state and Indian tribal foster care agencies and foster families about such provisions.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3298)
Read twice and referred to the Committee on Finance.
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