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IN SB0213
Bill
Status
Engrossed
1/27/2026
Primary Sponsor
Travis Holdman
Click for details
AI Summary
- Creates a new Indiana income tax deduction for individuals who suffer theft losses from financial transactions induced by third parties, where the theft causes them to incur federal gross income they otherwise would not have had
- Covers losses from qualifying accounts including retirement plans, securities/commodities accounts, savings/checking accounts, and similar accounts owned directly by individuals
- Requires theft to involve a distribution, sale, exchange, or liquidation followed by payment to another party within 60 days, where that party induced the transaction
- Mandates taxpayers apply to the Indiana Department of State Revenue for certification before claiming the deduction, with the department determining the allowable amount
- Applies retroactively to taxable years beginning after December 31, 2023, with an effective date of January 1, 2024
Legislative Description
Income tax deduction for theft loss.
Last Action
First reading: referred to Committee on Ways and Means
1/28/2026
Committee Referrals
Ways and Means1/28/2026
Tax and Fiscal Policy1/8/2026
Full Bill Text
No bill text available