IN HB1244

Increases the Indiana unified tax credit for the elderly by amending IC 6-3-3-9, effective January 1, 2018.

For single filers or married filers with one spouse under 65: raises credit from $100 to $125 (under $1,000 income), $50 to $65 ($1,000-$3,000), and $40 to $50 ($3,000-$10,000).

For married filers both age 65 or older: raises credit from $140 to $175 (under $1,000 income), $90 to $125 ($1,000-$3,000), and $80 to $100 ($3,000-$10,000).

Allows credits to be refunded or carried forward against future tax liability if the credit exceeds income taxes owed in the current year.

Applies only to taxable years beginning after December 31, 2017, with this provision expiring January 1, 2020.