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IN SB0515
Bill
Status
4/28/2017
Primary Sponsor
Brandt Hershman
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AI Summary
Senate Enrolled Act No. 515 Summary
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Establishes definitions for "industrial processing service" and "industrial processor" to expand sales tax exemptions for manufacturing-related activities, effective July 1, 2017.
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Modifies sales tax exemptions for agricultural machinery, equipment, and materials by clarifying material handling equipment provisions and adding exemptions for drainage water management system components used in crop production.
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Expands eligible entities for tax-exempt professional sports events to include NBA All-Star Weekend (in addition to Super Bowl and NCAA Final Four) and subjects their employees' wages to income taxation regardless of event status.
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Creates a clearinghouse system for local government units to submit delinquent debts for tax refund offset collection, establishes procedural protections including notice and hearing requirements for debtors, and allows local collection assistance fees up to $20 per debt.
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Specifies that Marion County local income taxes paid by team members and race team members are deposited into a capital improvement board bid fund and are not captured by other tax distribution mechanisms, effective January 1, 2018.
Legislative Description
Various tax matters. Provides and modifies sales and use tax exemptions. Provides an income tax deduction for certain amounts a taxpayer included as an item of income in a prior tax year. Specifies that, in determining an Indiana net operating loss deduction, certain modifications to adjusted gross income are not to be applied. Provides that certain professional sports team members or race team members are subject to the local income tax, and that in Marion County this local income tax revenue: (1) must be deposited in a dedicated fund established by its capital improvement board; and (2) is not captured
Last Action
Public Law 239
4/28/2017