IN SB0212

Amends Indiana's definition of "Internal Revenue Code" to incorporate federal tax law as of January 1, 2023, effective retroactively to January 1, 2025

Creates a special exception for three specific IRC provisions that will conform to federal law as of July 4, 2025 instead of January 1, 2023

The three provisions receiving updated conformity are IRC Section 23 (adoption credit), Section 168(e)(3)(B)(vi) (depreciation classifications), and Section 223(c)(2)(E) (health savings account rules)

Declares an emergency, making the act effective immediately upon passage