IN HB1273

Increases Indiana's unified tax credit for elderly taxpayers age 65+ with household income under $10,000, effective January 1, 2020

For single elderly filers or couples with one spouse 65+: credit rises from $100 to $125 (income under $1,000), $50 to $65 ($1,000-$3,000 income), and $40 to $50 ($3,000-$10,000 income)

For couples where both spouses are 65+: credit rises from $140 to $175 (income under $1,000), $90 to $125 ($1,000-$3,000 income), and $80 to $100 ($3,000-$10,000 income)

Claimants must be Indiana residents for at least 6 months during the taxable year and cannot have been incarcerated for 180+ days

Credit is refundable if it exceeds income tax liability; applies to taxable years beginning after December 31, 2019