Loading chat...
IN HB1265
Bill
Status
1/10/2017
Primary Sponsor
Doug Gutwein
Click for details
AI Summary
-
Adds new Section 48 to IC 6-2.5-5 defining "drainage water management system" as a subsurface system of drainage tubing, drainage tiles, water flowgates, control valves, and related control systems for controlled water drainage on agricultural crop production land.
-
Exempts transactions involving components of drainage water management systems from Indiana's state gross retail tax when purchased by persons engaged in the business of agriculture.
-
Applies only to components intended for use on agricultural land used for crop production.
-
Becomes effective July 1, 2017.
Legislative Description
Sales tax exemption for drainage water management. Provides that a component of a drainage water management system intended for use on agricultural land used for crop production is exempt from sales tax if the person acquiring the component is engaged in the business of agriculture.
Last Action
First reading: referred to Committee on Ways and Means
1/10/2017