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IN SB0389

Bill

Official Source

Status

Introduced

1/13/2015

Primary Sponsor

Joseph Zakas

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • Establishes an income tax credit for individuals who pay tolls on the Indiana toll road for nonbusiness purposes.
  • Credit amount equals the lesser of $300 or 50% of tolls paid during the taxable year.
  • Credit cannot exceed the individual's adjusted gross income tax liability after accounting for all other allowed credits.
  • Individuals must claim the credit on their annual state tax return and submit documentation as required by the department.
  • Effective for taxable years beginning after December 31, 2015, with the provision expiring January 1, 2020.

Legislative Description

Income tax credit for toll road charges. Provides an income tax credit to individuals who pay tolls to drive on the Indiana toll road for a nonbusiness purpose. Provides that the amount of the tax credit may not exceed the lesser of $300 or 50% of the amount of tolls paid by an individual during the taxable year. Provides that the tax credit may not exceed an individual's adjusted gross income tax liability.

Last Action

First Reading: referred to Committee on Tax & Fiscal Policy

1/13/2015

Committee Referrals

Tax and Fiscal Policy1/13/2015

Full Bill Text

No bill text available