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Senate Bill 0222

Senate Bill 0222

ARCHIVE (2011)

Latest Information


DIGEST OF SB 222 (Updated March 31, 2011 10:23 am - DI 113)

Transportation and logistics tax credit. Provides an income tax credit for expenditures made by a taxpayer for one or more of the following purposes: (1) Implementing homeland security measures to comply with federal homeland security requirements, as certified by the department of homeland security. (2) Making improvements to real property located in Indiana that are related to constructing a new or modernizing an existing transportation or logistical distribution facility. (3) Improving the transportation of goods by highway, rail, water, or air. (4) Making warehouse upgrades or improving logistical distribution. Requires the department of homeland security in consultation with the department of state revenue to adopt rules to implement a certification process for homeland security expenditures. Provides that the credit is 35% of the expenditures made by the taxpayer during the taxable year. Limits the credit that may be claimed for a taxable year to the taxpayer's state tax liability for that taxable year. Allows the taxpayer to carryover any unused credit for nine years. Provides that the credit may not be refunded, carried back, or transferred to another taxpayer.
    Current Status:
     In Committee - 2nd House
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