Bill Text: IN SB0270 | 2011 | Regular Session | Amended

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Bill Title: Hoosier business investment tax credit.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Introduced - Dead) 2011-02-07 - Senators Taylor and M. Young added as coauthors [SB0270 Detail]

Download: Indiana-2011-SB0270-Amended.html

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January 28, 2011

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SENATE BILL No. 270

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DIGEST OF SB 270 (Updated January 27, 2011 9:32 am - DI yl)

Citations Affected: IC 6-3.1.

Synopsis: Hoosier business investment tax credit. Provides that a taxpayer may sell, assign, convey, or otherwise transfer the Hoosier Business Investment Tax Credit.

Effective: July 1, 2011.

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Walker

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    January 6, 2011, read first time and referred to Committee on Rules and Legislative Procedure.
    January 27, 2011, amended; reassigned to Committee on Commerce and Economic Development.

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January 28, 2011

First Regular Session 117th General Assembly (2011)

PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2010 Regular Session of the General Assembly.

SENATE BILL No. 270

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    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-3.1-26-14; (11)SB0270.1.1. -->     SECTION 1. IC 6-3.1-26-14, AS AMENDED BY P.L.199-2005, SECTION 20, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 14. The total amount of a tax credit claimed for a taxable year under this chapter is a percentage determined by the corporation, not to exceed ten percent (10%), of the amount of a qualified investment made by the taxpayer in Indiana during that taxable year. The taxpayer may carry forward any unused credit. The taxpayer may sell, assign, convey, or otherwise transfer the tax credit provided by this chapter.

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