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IN SB0228
Bill
Status
1/7/2016
Primary Sponsor
Ronald Grooms
Click for details
AI Summary
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Allows Indiana residents of Clark County or Floyd County to deduct nonreimbursed Ohio River bridge toll expenses from their adjusted gross income if they incur at least $100 in tolls during a taxable year.
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Limits the deduction to the lesser of actual tolls paid or $500 per individual per taxable year.
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Requires individuals to claim the deduction on their annual state tax return and submit all information the department determines necessary for calculation.
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Caps married couples filing jointly at a maximum $500 deduction per taxable year (not $500 per spouse).
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Applies to taxable years beginning after December 31, 2016, with the provision set to expire January 1, 2019.
Legislative Description
Tax deduction for Ohio River bridge tolls. Provides an income tax deduction to qualified individuals who pay tolls to cross certain Ohio River bridges. Provides that a qualified individual is an individual who resides in Clark County or Floyd County and incurs at least $100 in nonreimbursed toll expenses to cross the Ohio River bridges in Clark County or Floyd County. Provides that the amount of the tax deduction may not exceed the lesser of: (1) the amount of nonreimbursed tolls paid by the qualified individual during the taxable year; or (2) $500.
Last Action
First reading: referred to Committee on Tax & Fiscal Policy
1/7/2016