Missoula, MT – According to the state officials, a key element of the governor’s Budget for Montana Families and carried in the legislature by Rep. Courtenay Sprunger, R-Kalispell, House Bill 225 provides families an adoption tax credit of $5,000, or $7,500 if the child is adopted within Montana.
The new law went into effect when the governor signed it on May 16, 2023, and applies retroactively to eligible adoptions on or after July 1, 2022, claimed on tax returns filed for tax years beginning after December 31, 2022.
According to the Family Equality Council, the cost of adoption can exceed $40,000.
Gov. Gianforte released the following statement”
“Adoption is a precious, life-changing gift, and the high costs of adoption shouldn’t be an obstacle for families to adopt a child. Through the adoption tax credit, we’ve made it easier for families to open their happy, healthy, loving homes to children.”
