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IN HB1259
Bill
Status
1/10/2017
Primary Sponsor
Dave Heine
Click for details
AI Summary
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Amends Indiana Code Section 6-3-2-6 to add a new subsection (b) providing an additional tax deduction for disabled veterans who rent a dwelling as their principal residence.
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The additional deduction equals the standard rent deduction (lesser of actual rent paid or $3,000) multiplied by the individual's disability rating as determined by the U.S. Department of Veterans Affairs.
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For married couples filing jointly where only one spouse claims a deduction under subsection (a), the total deduction is capped at $3,000.
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For married disabled veterans filing jointly and claiming deductions under both subsections (a) and (b), the total deduction is capped at $6,000.
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Applies to taxable years beginning after December 31, 2017, and expires July 1, 2021.
Legislative Description
Renter's deduction for disabled veterans. Provides an additional tax deduction for a disabled veteran who rents a dwelling for use as the disabled veteran's principal place of residence. (Current law allows for an individual to receive a tax deduction that is the lesser of the amount of rent paid by the individual or $3,000.)
Last Action
First reading: referred to Committee on Ways and Means
1/10/2017