A bill recently introduced in the Ohio House of Representatives would tap interest from Ohio's Unclaimed Funds to provide loans to parents adopting a child.
The bill, introduced by Senator Eric Kearney, D-Cincinnati, could potentially help 1,300 families adopt children by loaning up to $2,000, Kearney said.
This bill provides a way to provide funds for working-class families who seek to adopt
Kearney said.
The money will be taken from the $975 million in unclaimed funds waiting to be claimed by residents or by their heirs, said Dennis Ginty, spokesman for the Ohio Department of Commerce.
Unclaimed funds accumulate when various monies are owed, but the recipient cannot be located, Ginty said. The burden is placed on the individual to check with the Department of Commerce for funds to which they feel entitled.
Adoption is an expensive process, Kearney said, and while families do receive a $10,000 credit from the federal government, time between the adoption and when the family can cash in on the credit is often lengthy. If this bill is passed, a loan would be provided to the family immediately, helping with the startup costs of adoption, such as home inspection, medical bills and travel, Kearney said.
Kearney, who adopted a child with his wife 21 months ago, called this bill a necessary step to allow interested working-class families to adopt a child.
There were 2,076 children adopted last fiscal year in the state of Ohio, said Jon Allen, spokesman for the Ohio Department of Job and Family Services.
On any given day Allen said, there are around 2 800 children waiting in the state of Ohio.
Of the 2,831 children waiting, 40 are in Athens County, said Andrea Reik, executive director of Athens County Children Services. Most of these children, Reik said, are older or have special needs.
The $2,000 loan would not be as necessary if parents were adopting from a state agency, Reik said, because the costs normally associated with adoption are paid for by the state. However, potential parents using an outside agency, may be saddled with costs the state does not pay for, Reik said.
Even so, Reik said she is in favor of the bill.
Anything that can be done to support families is a good thing
Reik said.
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