# Indiana HB 1397: Redevelopment tax credits.

Indiana HB 1397, Redevelopment tax credits., is a Second Regular Session 124th General Assembly (2026) House bill sponsored by Danny Lopez (Republican); status failed, last action 2026-01-13 (Representative Goss-Reaves added as coauthor) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IN-HB1397-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Indiana HB 1397
- State: Indiana
- Session: Second Regular Session 124th General Assembly (2026)
- Title: Redevelopment tax credits.
- Status: failed
- Chamber: House
- Introduced: 2026-01-08
- Last action: 2026-01-13, Representative Goss-Reaves added as coauthor
- Sponsor: Danny Lopez (Republican)
- Cosponsors: 2
- Subjects: ways and means
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Provides that $50,000,000 of the $300,000,000 of the Indiana economic development corporation's annual certifiable tax credit amount must be allocated to the small town opportunity initiative (initiative). Establishes the initiative. Provides that the purpose of the initiative is to undertake qualified community projects within local government units that have a project budget of at least $15,000,000 per project to do the following: (1) Advance historic preservation. (2) Redevelop or rehabilitate distressed buildings or underutilized property. (3) Redevelop or rehabilitate sites where distressed buildings once stood. Allows a redevelopment tax credit for: (1) a for-profit taxpayer undertaking a qualified community project under the initiative equal to 20% of the taxpayer's cost of the project; and (2) a nonprofit taxpayer undertaking a qualified community project under the initiative equal to 30% of the taxpayer's cost of the project. Provides that initiative projects are not subject to any statutory or administrative repayment obligation. Provides for certain items that are included in a nonprofit taxpayer's qualified investment.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Danny Lopez (Republican), House
- Cosponsor: Craig Snow (Republican), House
- Cosponsor: Lori Goss-Reaves (Republican), House

## Bill text

- Introduced House Bill (H): [PDF](https://api.iga.in.gov/2026/bills/HB1397/versions/HB1397.01.INTR?format=pdf)

## Related bills

- HB 1406: Tax and fiscal matters. (signed)
- HB 1266: Department of education and education matters. (signed)
- HB 1277: Health and human services matters. (signed)
- HB 1210: Department of local government finance. (signed)
- HB 1249: Various criminal law matters. (signed)
- HB 1200: Bureau of motor vehicles. (signed)

## Sources
- [Introduced House Bill (H) (PDF)](https://api.iga.in.gov/2026/bills/HB1397/versions/HB1397.01.INTR?format=pdf)

## Related
- [HB 1406: Tax and fiscal matters.](https://policyrisk.com/state-bill/IN-HB1406-2026)
- [HB 1266: Department of education and education matters.](https://policyrisk.com/state-bill/IN-HB1266-2026)
- [HB 1277: Health and human services matters.](https://policyrisk.com/state-bill/IN-HB1277-2026)
- [HB 1210: Department of local government finance.](https://policyrisk.com/state-bill/IN-HB1210-2026)
- [HB 1249: Various criminal law matters.](https://policyrisk.com/state-bill/IN-HB1249-2026)
- [HB 1200: Bureau of motor vehicles.](https://policyrisk.com/state-bill/IN-HB1200-2026)
- [Indiana bills](https://policyrisk.com/states/indiana/bills)
- [Indiana state hub](https://policyrisk.com/states/indiana)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IN-HB1397-2026 (as of 2026-11-01).