IndianaSB 346First Regular Session 124th General Assembly (2025)SenateWALLET

Rural business growth.

Sponsored By: Brian Buchanan (Republican)

Failed

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.

tax and fiscal policythe houseways and means

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Brian Buchanan

    Republican • Senate

Cosponsors

  • Daryl Schmitt

    Republican • Senate

  • Jack Jordan

    Republican • House

  • Jeffrey Thompson

    Republican • House

  • Linda Rogers

    Republican • Senate

  • Matt Commons

    Republican • House

  • Mike Gaskill

    Republican • Senate

  • Shane Lindauer

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 47 • No: 2

Senate vote • 2/18/2025

Third reading: passed

Yes: 47 • No: 2

Actions Timeline

  1. Representative Commons added as cosponsor

    3/13/2025House
  2. First reading: referred to Committee on Ways and Means

    3/3/2025House
  3. Referred to the House

    2/19/2025Senate
  4. Cosponsors: Representatives Jordan and Thompson

    2/18/2025Senate
  5. House sponsor: Representative Lindauer

    2/18/2025Senate
  6. Third reading: passed; Roll Call 155: yeas 47, nays 2

    2/18/2025Senate
  7. Second reading: amended, ordered engrossed

    2/17/2025Senate
  8. Senator Schmitt added as coauthor

    2/17/2025Senate
  9. Amendment #1 (Buchanan) prevailed; voice vote

    2/17/2025Senate
  10. Committee report: do pass, adopted

    2/11/2025Senate
  11. Senator Rogers added as third author

    2/11/2025Senate
  12. Senator Gaskill added as second author

    2/11/2025Senate
  13. First reading: referred to Committee on Tax and Fiscal Policy

    1/13/2025Senate
  14. Authored by Senator Buchanan

    1/13/2025Senate

Bill Text

  • Engrossed Senate Bill (H)

  • Introduced Senate Bill (S)

  • Senate Bill (S)

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