Page:United States Statutes at Large Volume 115 Part 1.djvu/69

 PUBLIC LAW 107-16-^JUNE 7, 2001 115 STAT. 47 (3) CONFORMING AMENDMENT.— Section 32 is amended by 26 USC 32. striking subsection (n). (d) ELIMINATION OF REDUCTION OF CREDIT TO TAXPAYER SUB- JECT TO ALTERNATIVE MINIMUM TAX PROVISION. — Section 24(d) is amended— (1) by striking paragraph (2), and (2) by redesignating paragraphs (3) and (4) as paragraphs (2) and (3), respectively. (e) EFFECTIVE DATES. — Appiicabmty. (1) IN GENERAL.— Except as provided in paragraph (2), the 26 USC 24note. amendments made by this section shall apply to taxable years beginning after December 31, 2000. (2) SUBSECTION (b).—The amendments made by subsection (b) shall apply to taxable years beginning after December 31, 2001. SEC. 202. EXPANSION OF ADOPTION CREDIT AND ADOPTION ASSIST- ANCE PROGRAMS. (a) IN GENERAL. — (1) ADOPTION CREDIT.—Section 23(a)(l) (relating to allowance of credit) is amended to read as follows: "(1) IN GENERAL.—In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter— "(A) in the case of an adoption of a child other than a child with special needs, the amount of the qualified adoption expenses paid or incurred by the taxpayer, and "(B) in the case of an adoption of a child with special needs, $10,000. ". (2) ADOPTION ASSISTANCE PROGRAMS.— Section 137(a) (relating to adoption assistance programs) is amended to read as follows: "(a) IN GENERAL.— Gross income of an employee does not include amounts paid or expenses incurred by the employer for adoption expenses in connection with the adoption of a child by an employee if such amounts are furnished pursuant to an adoption assistance program. The amount of the exclusion shall be— "(1) in the case of an adoption of a child other than a child with special needs, the amount of the qualified adoption expenses paid or incurred by the taxpayer, and "(2) in the case of an adoption of a child with special needs, $10,000.". (b) DOLLAR LIMITATIONS.— (1) DOLLAR AMOUNT OF ALLOWED EXPENSES. — (A) ADOPTION EXPENSES.— Section 23(b)(1) (relating to allowance of credit) is amended— (i) by striking "$5,000" and inserting "$10,000", (ii) by striking "($6,000, in the case of a child with special needs)", and (iii) by striking "subsection (a)" and inserting "subsection (a)( 1)(A)". (B) ADOPTION ASSISTANCE PROGRAMS. — Section 137(b)(1) (relating to dollar limitations for adoption assistance programs) is amended— (i) by striking "$5,000" and inserting "$10,000", and (ii) by striking "($6,000, in the case of a child with special needs)", and

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