Indiana House Bill 1316 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 14 2021 - 25% progression, died in committee
Action: 2021-01-14 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Paycheck protection program loans. Provides that, to the extent that the definition of the Internal Revenue Code (IRC) in Title 6 of the Indiana Code is not updated by amendment in the 2021 session or thereafter to conform with the CARES Act and its related amendments, a taxpayer is entitled to an exemption from state adjusted gross income equal to the amount of income associated with forgiveness of a covered loan under the Paycheck Protection Program of the CARES Act that is excluded from the taxpayer's federal gross income under Section 1106(i) of that Act, but otherwise included in the taxpayer's state adjusted gross income based on the definition of the IRC in Title 6 of the Indiana Code.

Paycheck protection program loans.

Rep. Mike Andrade [D]

Date	Chamber	Action
2021-01-14	House	First reading: referred to Committee on Ways and Means
2021-01-14	House	Authored by Representative Andrade

Type	Source
Summary	https://iga.in.gov/legislative/2021/bills/house/1316/details
Text	http://iga.in.gov/static-documents/b/b/6/9/bb698301/HB1316.01.INTR.pdf
Supplement	http://iga.in.gov/static-documents/4/f/7/2/4f727109/HB1316.01.INTR.FN001.pdf