MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Finance

By: Senator(s) Nunnelee

AN ACT TO PROVIDE AN INCOME TAX CREDIT IN AN AMOUNT NOT TO EXCEED $5,000.00 FOR ATTORNEY'S FEES AND COURT COSTS ACTUALLY INCURRED FOR THE ADOPTION OF A CHILD; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. There shall be allowed as a credit against the tax imposed by this chapter the actual expenses incurred as attorney's fees and court costs, not to exceed Five Thousand Dollars ($5,000.00), for each dependent child legally adopted by a taxpayer under the laws of this state during calendar year 1999 or during any calendar year thereafter. The tax credit under this section may be claimed only for the taxable year in which the adoption becomes final under the laws of this state. A tax credit is not allowed under this section for any child for which an exemption is claimed during the same taxable year under Section 27-7-21(e).

SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the income tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the income tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.

SECTION 3. Section 1 of this act shall be codified in Chapter 7 of Title 27, Mississippi Code of 1972.

SECTION 4. This act shall take effect and be in force from and after January 1, 1999.