Indiana Senate Bill 346

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-01-13 - First reading: referred to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [PDF]

Rural business growth. Establishes a state tax credit (credit) for certain capital investments made in rural funds. Establishes procedures for a rural fund to apply to the Indiana economic development corporation (IEDC) for certification of a capital investment as eligible for a credit provided by the bill. Requires a rural fund to pay a nonrefundable application fee of $5,000 to the IEDC. Provides that the credit is an amount equal to: (1) the applicable percentage for the credit allowance date; multiplied by (2) the purchase price paid to the rural fund for the capital investment. Sets forth the maximum annual amount of credits that may be certified. Provides that the credit is subject to recapture. Requires a rural fund that has received a credit to submit reports on an annual basis to the IEDC over the credit allowance period.

Rural business growth.

Sen. Brian Buchanan [R]

Date	Chamber	Action
2025-01-13	Senate	First reading: referred to Committee on Tax and Fiscal Policy
2025-01-13	Senate	Authored by Senator Buchanan

Type	Source
Summary	https://iga.in.gov/legislative/2025/bills/senate/346/details
Text	https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0346/SB0346.01.INTR.pdf
Supplement	https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0346/fiscal-notes/SB0346.01.INTR.FN001.pdf
Supplement	https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0346/fiscal-notes/SB0346.01.INTR.FN002.pdf