SB0346: A BILL FOR AN ACT to amend the Indiana Code concerning taxation.
Page last updated: Sunday, April 20, 2025 at 6:56 PM (America/Indianapolis).
General Information
- Stage: Engrossed Senate Bill (H)
- Current Chamber: house
- Origin Chamber: senate
- Description: Rural business growth.
Legislators
Authors (3)
Coauthors (1)
Sponsors (1)
Cosponsors (3)
Advisors (0)
Conferees (0)
Actions (14 total)
- Mar 13, 2025, 8:00 AM: Representative Commons added as cosponsor
- Mar 3, 2025, 7:22 AM: First reading: referred to Committee on Ways and Means
- Feb 19, 2025, 7:00 AM: Referred to the House
- Feb 18, 2025, 12:09 PM: Cosponsors: Representatives Jordan and Thompson
- Feb 18, 2025, 12:09 PM: House sponsor: Representative Lindauer
- Feb 18, 2025, 12:03 PM: Third reading: passed; Roll Call 155: yeas 47, nays 2
- Feb 17, 2025, 1:42 PM: Senator Schmitt added as coauthor
- Feb 17, 2025, 9:34 AM: Second reading: amended, ordered engrossed
- Feb 17, 2025, 9:34 AM: Amendment #1 (Buchanan) prevailed; voice vote
- Feb 11, 2025, 11:06 AM: Senator Rogers added as third author
- Feb 11, 2025, 11:06 AM: Senator Gaskill added as second author
- Feb 11, 2025, 8:41 AM: Committee report: do pass, adopted
- Jan 13, 2025, 6:52 AM: First reading: referred to Committee on Tax and Fiscal Policy
- Jan 13, 2025, 6:52 AM: Authored by Senator Buchanan
Digest
Establishes a state tax credit (credit) for certain capital investments made in rural funds. Establishes procedures for a rural fund to apply to the Indiana economic development corporation (IEDC) for certification of a capital investment as eligible for a credit provided by the bill. Requires a rural fund to pay a nonrefundable application fee of $5,000 to the IEDC. Provides that the credit is an amount equal to: (1) the applicable percentage for the credit allowance date; multiplied by (2) the purchase price paid to the rural fund for the capital investment. Sets forth the maximum annual amount of credits that may be certified. Provides that the credit is subject to recapture. Requires a rural fund that has received a credit to submit reports on an annual basis to the IEDC over the credit allowance period.