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IN SB0115
Bill
Status
1/3/2018
Primary Sponsor
Lonnie Randolph
Click for details
AI Summary
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Increases the Indiana income tax credit for teachers' classroom supplies expenditures from $100 to $500 per taxable year
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Applies to individuals employed as teachers as defined under IC 20-18-2-22(a)
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Eligible classroom supplies must qualify for the federal educator expense deduction under Section 62(a)(2)(D) of the Internal Revenue Code
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Credit cannot exceed the individual's adjusted gross income tax liability and unused credits cannot be carried forward, carried back, or refunded
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Effective retroactively to January 1, 2018, applying to taxable years beginning after December 31, 2017
Legislative Description
Tax credit for teachers' classroom supplies. Increases the income tax credit for an individual employed as a teacher for amounts expended on classroom supplies from $100 to $500 per taxable year.
Last Action
Senator Ford added as coauthor
1/8/2018