Senate Bill 354 Summary

• Exempts sales of original and creative works of art from Indiana gross retail and use taxes when transactions occur in certified arts and cultural districts.

• Requires arts and cultural districts to be established by local economic development commissions and certified by the Indiana arts commission.

• Exempts income derived by writers, composers, and artists from state and local adjusted gross income tax, but only for income from original and creative works created within the arts and cultural district where their business is located.

• Effective dates: gross retail and use tax exemption takes effect July 1, 2010; income tax exemption applies to taxable years beginning after December 31, 2010.