Indiana House Bill 1405 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 16 2014 - 25% progression, died in committee
Action: 2014-01-16 - First Reading: Referred to Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Authorizes an additional tax rate under the county adjusted gross income tax (CAGIT) or the county option income tax (LOIT) to offset up to 75% of circuit breaker losses sustained by the political subdivisions in a county for five years. Provides that the tax rate may not exceed 1%. Provides that the additional rate may not be imposed at the same time that an additional rate is imposed to freeze the property tax levy or for property tax relief. Provides that an additional tax rate may be extended for an additional five year period or reimposed following the expiration of the additional rate.

Circuit breaker CAGIT and LOIT options.

Rep. Timothy Wesco [R]

Date	Chamber	Action
2014-01-16	House	First Reading: Referred to Ways and Means
2014-01-15	House	Authored by Representative Wesco.

Type	Source
Summary	https://iga.in.gov/legislative/2014/bills/house/1405/details
Text	http://iga.in.gov/static-documents/e/d/1/9/ed1944c0/HB1405.01.INTR.pdf