HB 1335 Summary

• Creates a new class of "Hoosier overdrive investments" eligible for the Hoosier business investment tax credit, covering expenditures for transportation, logistics, warehousing, and homeland security improvements in Indiana.

• Sets the tax credit percentage for Hoosier overdrive investments at a maximum of 25% (compared to 10% for other qualified investments) and caps total annual credits awarded for these investments at $20,000,000 per state fiscal year.

• Defines eligible Hoosier overdrive investments to include improvements to transportation facilities (highway, rail, water, air), warehousing and logistics equipment, and federal homeland security compliance measures.

• Modifies credit calculation methodology to measure Hoosier overdrive investments against a baseline using the average of prior two years' investments multiplied by 1.05, rather than applying credits to all qualified investments made during the tax year.

• Effective January 1, 2014.