Indiana House Bill 1220

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 9 2024 - 25% progression
Action: 2024-01-09 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Tax deduction and credit for persons 65 or older. Increases, for purposes of the deduction for persons 65 or older: (1) the adjusted gross income threshold for an individual from $30,000 to $40,000; (2) the combined adjusted gross income threshold for an individual filing a joint return with the individual's spouse from $40,000 to $50,000; (3) the combined adjusted gross income for an individual and all other individuals that are joint tenants or tenants in common from $40,000 to $50,000; and (4) the maximum assessed value of the property subject to the deduction from $240,000 to $350,000. Increases, for purposes of the over 65 circuit breaker credit: (1) the adjusted gross income threshold for an individual from $30,000 to $40,000; (2) the combined adjusted gross income threshold for an individual filing a joint return with the individual's spouse from $40,000 to $50,000; and (3) the maximum assessed value of the property subject to the credit from $240,000 to $350,000. Makes conforming changes.

Tax deduction and credit for persons 65 or older.

Rep. David Abbott [R]

Rep. Zach Payne [R]

Date	Chamber	Action
2024-01-09	House	First reading: referred to Committee on Ways and Means
2024-01-09	House	Authored by Representative Abbott
2024-01-09	House	Coauthored by Representative Payne

Type	Source
Summary	https://iga.in.gov/legislative/2024/bills/house/1220/details
Text	https://iga.in.gov/pdf-documents/123/2024/house/bills/HB1220/HB1220.01.INTR.pdf
Supplement	https://iga.in.gov/pdf-documents/123/2024/house/bills/HB1220/fiscal-notes/HB1220.01.INTR.FN001.pdf