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DIGEST OF INTRODUCED BILL
Pharmaceutical assistance credit. Provides a refundable income tax credit for residents of Indiana who: (1) are at least 65 years old; (2) live in a household with annual income less than 150% of the federal poverty level; and (3) are not covered by Medicaid or wholly covered by another program or insurance. Provides that the credit is equal to the aggregate amount of prescription drug costs incurred by the taxpayer during the year minus the amount of the taxpayer's prescription drug costs reimbursed from all other sources. Provides that the credit may not exceed $750 in the case of a single return or $750 per taxpayer in the case of a joint return.