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IN SB0180
Bill
AI Summary
- Creates an additional Indiana income tax deduction for disabled veterans who rent their principal residence, on top of the existing renter's deduction of up to $3,000
- Additional deduction amount equals the standard renter's deduction multiplied by the veteran's VA service-connected disability rating (e.g., 50% disability rating = 50% of the base deduction)
- Disabled veteran must have served in U.S. military during wartime, received honorable discharge, and have at least 10% service-connected disability
- Married couples filing jointly are capped at $3,000 under the standard deduction and $6,000 total when combining both deductions
- Effective January 1, 2020; passed Senate Veterans Affairs Committee 8-0 and reassigned to Tax and Fiscal Policy Committee
Legislative Description
Disabled veteran renter's deduction. Provides an income tax deduction, in addition to the current renter's deduction, to a disabled veteran who rents a dwelling as a principal place of residence. Provides that the additional deduction is equal to the amount the individual is entitled to deduct under the current renter's deduction multiplied by the individual's service connected disability rating.
Last Action
Senators Doriot and Tomes added as coauthors
1/24/2019
Committee Referrals
Tax and Fiscal Policy1/22/2019
Veterans Affairs & The Military1/3/2019
Full Bill Text
No bill text available