IN SB0326

Establishes automatic 0.1% biennial reductions in Indiana's adjusted gross income tax rates for residents, nonresidents, and corporations when year-over-year state income tax revenue growth exceeds 3.1%

Sets minimum tax rate floors of 2.9% for individuals (down from 3.4%) and 6% for corporations (which is already scheduled to decrease from 8.5% to 6.5% by July 2015)

Requires the budget agency to make the revenue growth determination before September 1 of each even-numbered year, with any rate reduction taking effect for taxable years beginning in the following odd-numbered year

Mandates the Department of State Revenue to publish the applicable tax rates in the Indiana Register and on the department's website before October 1 each year

Uses a three-year lookback period for calculating net adjusted gross income tax revenue, excluding automatic taxpayer refund credits but subtracting overpayments refunded to taxpayers