# Indiana SB 368: Homestead exemption for persons at least age 65.

Indiana SB 368, Homestead exemption for persons at least age 65., is a First Regular Session 124th General Assembly (2025) Senate bill sponsored by Michael Young (Republican); status failed, last action 2025-01-13 (First reading: referred to Committee on Tax and Fiscal Policy) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/IN-SB368-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Indiana SB 368
- State: Indiana
- Session: First Regular Session 124th General Assembly (2025)
- Title: Homestead exemption for persons at least age 65.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-13
- Last action: 2025-01-13, First reading: referred to Committee on Tax and Fiscal Policy
- Sponsor: Michael Young (Republican)
- Cosponsors: 0
- Subjects: tax and fiscal policy
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Eliminates property taxes on primary residences for those who are at least 65 years of age (qualified homesteads) beginning with the assessment date on January 1 of the year that immediately succeeds the year in which the balance in the pension stabilization fund is sufficient to pay the liabilities of the pre-1996 account without the need for further appropriation by the general assembly. Requires the Indiana public retirement system to determine whether the balance of the pension stabilization fund is sufficient to pay the liabilities of the pre-1996 account without the need for an appropriation by the general assembly and certify the determination to the budget committee on or before March 1, 2026, and on or before March 1 of each odd-numbered year thereafter. Provides an annual state distribution to offset the property tax elimination for qualified homesteads based on the amount of property taxes that otherwise would be due on the qualified homesteads. Makes an ongoing appropriation.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Michael Young (Republican), Senate

## Actions (2)

- 2025-01-13: First reading: referred to Committee on Tax and Fiscal Policy (Senate)
- 2025-01-13: Authored by Senator Young M (Senate)

## Bill text

- Introduced Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0368/versions/SB0368.01.INTR?format=pdf)

## Related bills

- SB 324: Criminal procedures. (signed)
- SB 231: Various corrections matters. (signed)
- SB 80: Code publication. (signed)
- SB 453: Various tax matters. (signed)
- SB 464: Financial institutions and consumer credit. (signed)
- SB 371: Workforce matters. (signed)

## Sources
- [Introduced Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0368/versions/SB0368.01.INTR?format=pdf)

## Related
- [SB 324: Criminal procedures.](https://policyrisk.com/state-bill/IN-SB324-2025)
- [SB 231: Various corrections matters.](https://policyrisk.com/state-bill/IN-SB231-2025)
- [SB 80: Code publication.](https://policyrisk.com/state-bill/IN-SB80-2025)
- [SB 453: Various tax matters.](https://policyrisk.com/state-bill/IN-SB453-2025)
- [SB 464: Financial institutions and consumer credit.](https://policyrisk.com/state-bill/IN-SB464-2025)
- [SB 371: Workforce matters.](https://policyrisk.com/state-bill/IN-SB371-2025)
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Source: PRIA, https://policyrisk.com/state-bill/IN-SB368-2025 (as of 2026-10-17).