SB0401: A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Page last updated: Sunday, April 20, 2025 at 7:19 PM (America/Indianapolis).

General Information

• Stage: Introduced Senate Bill (S)
• Current Chamber: senate
• Origin Chamber: senate
• Description: Landlord tax credit.

Legislators

Actions (2 total)

• Jan 13, 2025, 11:37 AM: First reading: referred to Committee on Tax and Fiscal Policy
• Jan 13, 2025, 11:37 AM: Authored by Senator Taylor G

Digest

Provides that a taxpayer is entitled to a credit against the taxpayer's state income tax liability in a taxable year equal to the lesser of: (1) $1,500 multiplied by the number of rental units that the taxpayer rents during a taxable year to individuals that were incarcerated at some time not more than three years prior to the taxable year; or (2) $7,500. Provides that to obtain the credit, the taxpayer must claim the credit in the manner prescribed by the department. Prohibits the taxpayer from claiming any carryover, carryback, or refund of any unused credit.