Indiana Senate Bill 127 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 5 2021 - 25% progression, died in committee
Action: 2021-01-05 - First reading: referred to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [PDF]

Use of property as a short term rental. Provides that if a taxpayer rents the taxpayer's residential real property to a third party or third parties for more than 29 nights per year: (1) the taxpayer's personal property such as furnishings and equipment used in the taxpayer's residential real property is business personal property; (2) the taxpayer's residential real property does not qualify as a homestead; (3) the taxpayer is not entitled to the standard or supplemental homestead deductions; and (4) the taxpayer's residential real property is subject to the nonresidential real property circuit breaker tax credit rather than the homestead circuit breaker tax credit.

Use of property as a short term rental.

Sen. Mike Bohacek [R]

Date	Chamber	Action
2021-01-05	Senate	First reading: referred to Committee on Tax and Fiscal Policy
2021-01-05	Senate	Authored by Senator Bohacek

Type	Source
Summary	https://iga.in.gov/legislative/2021/bills/senate/127/details
Text	http://iga.in.gov/static-documents/3/c/8/c/3c8c042a/SB0127.01.INTR.pdf
Supplement	http://iga.in.gov/static-documents/c/5/9/e/c59e590c/SB0127.01.INTR.FN001.pdf