IN SB0181

Changes the veteran's motor vehicle excise tax credit from a flat $70 per vehicle to 2% of the applicable maximum property tax deduction amount, rounded to the nearest dollar, effective January 1, 2015.

Applies to registration years beginning after December 31, 2014, and amends IC 6-6-5-5.2 concerning eligible veterans and surviving spouses.

Credit calculation involves two steps: first determining the applicable maximum property tax deduction based on veteran disability status, then multiplying that amount by 2%.

Individuals may claim the credit on a maximum of two (2) motor vehicles and must not own property eligible for property tax deductions under specified Indiana Code sections.

Requires claimants to submit an affidavit from the county auditor confirming they do not own property qualifying for applicable property tax deductions.