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IN HB1311

Bill

Official Source

Status

Introduced

1/15/2014

Primary Sponsor

Dan Forestal

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Increases the maximum renter's deduction for Indiana state income tax from $3,000 to $6,000 for taxable years beginning after December 31, 2014
  • Individual renters may deduct the lesser of actual rent paid or the maximum deduction amount from adjusted gross income for their principal residence
  • Married couples filing jointly cannot claim more than $3,000 for taxable years before January 1, 2015, or more than $6,000 for taxable years after December 31, 2014
  • Deduction does not apply to individuals renting dwellings exempt from Indiana property tax
  • Defines "dwelling" to include single-family dwellings and units in multi-family dwellings; effective July 1, 2014

Legislative Description

Renter's deduction.

Last Action

First Reading: Referred to Ways and Means

1/15/2014

Committee Referrals

Ways and Means1/15/2014

Full Bill Text

No bill text available