Indiana State Senator Brandt Hershman (R) has introduced Senate Bill 344, which would repeal of the prohibition against using the value of federal income tax credits awarded under Section 42 for the purpose of determining assessed value. This bill also sunsets the following community development related tax credits after December 31, 2016.
- Neighborhood Assistance Program credit
- Enterprise zone employment expense credit
- Enterprise zone investment credit
- Enterprise zone loan interest credit
- Historic rehabilitation credits
- Residential historic rehabilitation credit
- Community revitalization enhancement district credit
The measure’s sponsor is the Majority Whip in the State Senate and the Chairman of the Committee on Tax and Fiscal Policy, the measure’s committee of referral. As of January 20, 2012 the legislation has yet to be considered by the committee of referral.
To view SB 344, click here.
