SF 486 (LSB 2163SS (3) 87)

SENATE FILE 486

BY  DANIELSON

A BILL FOR

An Act relating to tax deductions for child foster care.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 422.9, subsection 2, Code 2017, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  0d.  Add the amount paid or incurred by a taxpayer, who is a licensed foster care provider, for out-of-pocket necessary expenditures made by the taxpayer to facilitate foster child visitations with the child’s parent, which expenditures are not covered by foster care payments to the taxpayer. For purposes of this paragraph, “necessary expenditures” means items including but not limited to baby food, baby formula, diapers, and snack foods, which are purchased exclusively for use during scheduled visitations with the child’s parent. 
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill relates to tax deductions for foster care. The bill provides that a taxpayer may deduct from Iowa net income necessary expenditures paid or incurred in connection with providing foster care to a child. For purposes of the bill, necessary expenditures means items including but not limited to baby food, baby formula, diapers, and snack foods, which are purchased exclusively for use during scheduled visitations with the child’s parent.