Indiana House Bill 1018

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 8 2025 - 25% progression
Action: 2025-01-21 - Representative Commons M added as coauthor
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Old home repair tax credit. Allows a credit against a qualified taxpayer's state tax liability in an amount equal to: (1) 20% of the qualified expenditures that a taxpayer makes for the preservation or rehabilitation of the taxpayer's residence; or (2) 55% of the qualified expenditures that a taxpayer makes for the replacement of electrical wiring and fixtures that were added to the property prior to 1940. Provides that the property must be: (1) located in Indiana; (2) at least 85 years old; and (3) owned by the taxpayer. Provides that the preservation or rehabilitation work must be completed in not more than two years. Provides that the property must be principally used and occupied by the taxpayer as the taxpayer's residence. Provides that qualified expenditures for preservation or rehabilitation of the property must exceed $5,500. Provides that the credit may be carried forward 15 years, but may not be carried back. Provides that the amount of credits allowed may not exceed $100,000 in a state fiscal year. Provides that a taxpayer that claims the credit may not also claim the residential historic rehabilitation credit for the taxable year.

Old home repair tax credit.

Rep. Kyle Pierce [R]

Rep. Matt Commons [R]

Date	Chamber	Action
2025-01-21	House	Representative Commons M added as coauthor
2025-01-08	House	First reading: referred to Committee on Ways and Means
2025-01-08	House	Authored by Representative Pierce K

Type	Source
Summary	https://iga.in.gov/legislative/2025/bills/house/1018/details
Text	https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1018/HB1018.01.INTR.pdf
Supplement	https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1018/fiscal-notes/HB1018.01.INTR.FN001.pdf