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IN HB1638
Bill
Status
1/24/2017
Primary Sponsor
Todd Huston
Click for details
AI Summary
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Creates a state income tax credit for individuals who hold a valid Indiana teaching license under IC 20-28 and provide direct classroom instruction to kindergarten through grade 12 students in Indiana.
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Credit amount equals the total state adjusted gross income tax imposed on income earned from employment as a teacher during the taxable year.
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Credit cannot exceed the individual's state adjusted gross income tax liability for the year, reduced by all other credits applied before this credit, and any unused credit cannot be carried forward, carried back, or refunded.
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Effective January 1, 2018, and applies only to taxable years beginning after December 31, 2017.
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Amends IC 6-3.6-8-5 to exclude the teacher credit from applying to county income tax imposed under that article.
Legislative Description
State income tax credit for licensed teachers. Provides a state income tax credit for an individual who is a licensed K-12 classroom teacher. Specifies that the credit is limited to state income taxes on the income earned from the individual's employment as a classroom teacher.
Last Action
First reading: referred to Committee on Ways and Means
1/24/2017