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IN HB1085
Bill
Status
1/3/2018
Primary Sponsor
Richard Hamm
Click for details
AI Summary
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Creates a $500 annual income tax credit for individuals who are active volunteer firefighters in Indiana for at least 6 months during the taxable year, effective for tax years beginning after December 31, 2018
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Credit applies only to adjusted gross income tax liability and cannot exceed the taxpayer's total tax owed; unused credits cannot be carried forward, carried back, or refunded
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Department of Revenue must prescribe a standard form for fire departments to confirm volunteer firefighter service during each calendar year
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Fire departments must issue written confirmation of service to volunteer firefighters by February 1 each year for the preceding calendar year
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Volunteer firefighters filing paper returns must submit the confirmation of service with their return; those filing electronically must retain confirmation with records and submit upon department request
Legislative Description
Income tax credit for volunteer firefighters. Provides that an individual who is a volunteer firefighter is entitled to a credit of $500 against the individual's adjusted gross income tax liability each taxable year.
Last Action
Representative Pressel added as coauthor
1/16/2018