Senate Bill 307 Summary

• Transfers approval authority for tax credits for qualified logistics investments from the Indiana Economic Development Corporation to the Indiana Department of Transportation.

• Establishes a separate $10 million annual cap for logistics investment tax credits, distinct from the $50 million cap for other qualified investments.

• Increases the maximum tax credit percentage for logistics investments to 25% (compared to 10% for other qualified investments).

• Allows the Indiana Department of Transportation to enter into agreements with taxpayers for logistics investment tax credits and determine credit carryforward periods.

• Effective July 1, 2014, and applies to qualified investments made before December 31, 2016.