IN HB1383

Adds new section IC 6-3-2-23 to allow individuals an income tax deduction for fitness facility expenditures, effective for taxable years beginning after December 31, 2014.

Defines "fitness facility" as real property and equipment located in Indiana made available for public use to enable patrons to engage in various forms of physical exercise.

Allows deduction for expenditures made on behalf of the individual, their spouse, and dependent children, limited to the lesser of actual expenses or a maximum deduction amount.

Maximum deduction is $500 for single filers without dependent children or married individuals filing separately; $1,000 for joint filers or single filers with one or more dependent children.

Married couples filing jointly are capped at the $1,000 maximum deduction and cannot claim a combined deduction exceeding this amount.