HB1101: A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Page last updated: Sunday, April 20, 2025 at 7:33 PM (America/Indianapolis).

General Information

• Stage: Introduced House Bill (H)
• Current Chamber: house
• Origin Chamber: house
• Description: Tax deduction and credit for persons 65 or older.

Legislators

Actions (4 total)

• Jan 27, 2025, 10:38 AM: Representative King added as coauthor
• Jan 8, 2025, 8:39 AM: First reading: referred to Committee on Ways and Means
• Jan 8, 2025, 8:39 AM: Authored by Representative Abbott
• Jan 8, 2025, 8:39 AM: Coauthored by Representative Smaltz

Digest

Increases, for purposes of the deduction for persons 65 or older: (1) the adjusted gross income threshold for an individual from $30,000 to $40,000; (2) the combined adjusted gross income threshold for an individual filing a joint return with the individual's spouse from $40,000 to $50,000; (3) the combined adjusted gross income for an individual and all other individuals that are joint tenants or tenants in common from $40,000 to $50,000; and (4) the maximum assessed value of the property subject to the deduction from $240,000 to $350,000. Increases, for purposes of the over 65 circuit breaker credit: (1) the adjusted gross income threshold for an individual from $30,000 to $40,000; (2) the combined adjusted gross income threshold for an individual filing a joint return with the individual's spouse from $40,000 to $50,000; and (3) the maximum assessed value of the property subject to the credit from $240,000 to $350,000. Makes conforming changes.