HB1524: A BILL FOR AN ACT to amend the Indiana Code concerning taxation.
Page last updated: Sunday, April 20, 2025 at 7:11 PM (America/Indianapolis).
General Information
- Stage: Introduced House Bill (H)
- Current Chamber: house
- Origin Chamber: house
- Description: Tax credit for contributions to qualified nonprofits.
Legislators
Authors (1)
Coauthors (0)
Sponsors (0)
Cosponsors (0)
Advisors (0)
Conferees (0)
Actions (2 total)
- Jan 21, 2025, 11:29 AM: First reading: referred to Committee on Ways and Means
- Jan 21, 2025, 11:29 AM: Authored by Representative Sweet
Digest
Provides a state tax credit (credit) for contributions made to a qualified nonprofit organization for taxable years beginning after December 31, 2025. Provides that the amount allowable as a credit in a taxable year is equal to the lesser of: (1) the total amount of the contributions made by the taxpayer to one or more qualified nonprofit organizations; or (2) 50% of the taxpayer's state tax liability. Provides that the maximum amount of credits that may be awarded in a state fiscal year may not exceed $1,000,000.