Source: http://taxtv.com/code/00160-USCODE-2011-title26-subtitleA-chap1-subchapB-partIII-sec131/
Timestamp: 2017-03-27 06:44:43
Document Index: 462174766

Matched Legal Cases: ['§131', '§131', '§131', '§102', '§1707', '§404', '§404', '§404', '§404', '§131']

IRC §131. Certain foster care payments - TaxTV.com
IRC §131. Certain foster care payments
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The term “qualified foster care payment” means any payment made pursuant to a foster care program of a State or political subdivision thereof—
(i) paid to the foster care provider for caring for a qualified foster individual in the foster care provider’s home, or
The term “qualified foster care placement agency” means any placement agency which is licensed or certified by—
(Added Pub. L. 97–473, title I, §102(a), Jan. 14, 1983, 96 Stat. 2606; amended Pub. L. 99– 4, title XVII, §1707(a), Oct. 22, 1986, 100 Stat. 2781; Pub. L. 107–147, title IV, §404(a)–(c), Mar. 9, 2002, 116 Stat. 41.)
2002—Subsec. (b)(1). Pub. L. 107–147, §404(a), amended provisions preceding subpar. (B) generally. Prior to amendment, text of such provisions read as follows: “The term ‘qualified foster care payment’ means any amount—
Subsec. (b)(2)(B). Pub. L. 107–147, §404(b), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “in the case of an individual who has not attained age 19, an organization which is licensed by a State (or political subdivision thereof) as a placement agency and which is described in section 501(c)(3) and exempt from tax under section 501(a).”
1986—Subsec. (a). Pub. L. 99– 4 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “Gross income shall not include amounts received by a foster parent during the taxable year as qualified foster care payments.”
Subsec. (b). Pub. L. 99– 4 amended subsec. (b) generally. Prior to amendment, par. (1) “In general” read as follows: “The term ‘qualified foster care payment’ means any amount—
Subsec. (c). Pub. L. 99– 4, in amending subsec. (c) generally, in par. (1)(A), substituted references to “qualified foster individual”, “such individual”, and “foster care provider” for references to “qualified foster child”, “such child”, and “foster parent”, respectively, and in par. (2) substituted “more than (A) 10 qualified foster individuals who have not attained age 19, and (B) 5 qualified foster individuals not described in subparagraph (A)” for “more than 10 qualified foster children”.
Pub. L. 107–147, title IV, §404(d), Mar. 9, 2002, 116 Stat. 42, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2001.”
Section 1707(b) of Pub. L. 99– 4 provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 1985.”
Section 102(c) of Pub. L. 97–473 provided that: “The amendments made by this section [enacting this section] shall apply to taxable years beginning after December 31, 1978.”
View related content: IRC §131