IndianaHB 1612First Regular Session 124th General Assembly (2025)House

Rural business growth.

Sponsored By: Shane Lindauer (Republican)

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Summary

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.

ways and means

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Shane Lindauer

    Republican • House

Cosponsors

  • Jack Jordan

    Republican • House

  • Matt Commons

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Representative Commons added as coauthor

    1/27/2025House
  2. Representative Jordan added as coauthor

    1/27/2025House
  3. First reading: referred to Committee on Ways and Means

    1/21/2025House
  4. Authored by Representative Lindauer

    1/21/2025House

Bill Text

  • Introduced House Bill (H)

Related Bills

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