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Senate Bill 0357


Senate Bill 0357

ARCHIVE (2004)

Latest Information

 

DIGEST OF INTRODUCED BILL


Tax incentives for economic development. Provides for coordinating Indiana rules that affect Indiana endangered industries with national policies. Eliminates the 30% floor on the assessed valuation of personal property. Exempts purchases of tangible personal property directly used in research and development from the sales tax. Provides that, for purposes of the Indiana adjusted gross income tax, business income is apportioned based on the sales factor. Eliminates the property factor and payroll factor that are currently also used in apportioning income. Expands the capital investment tax credit to apply statewide. Increases the credit from 14% to 30%. Provides an employer with at least 250 full-time employees a state tax liability credit equal to 50% of expenditures made for job skills training programs on behalf of its employees.
    Current Status:
     In Committee - first House
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