Bill Text: IN SB0577 | 2013 | Regular Session | Introduced
Bill Title: Income tax credit for toll road charges.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2013-01-28 - Senators Arnold, Yoder, Glick, Broden, Mrvan and Grooms added as coauthors [SB0577 Detail]
Download: Indiana-2013-SB0577-Introduced.html
Citations Affected: IC 6-3-3-11.
Synopsis: Income tax credit for toll road charges. Provides an income
tax credit to individuals who pay tolls to drive on the Indiana toll road
for a nonbusiness purpose. Provides that the amount of the tax credit
may not exceed the lesser of $300 or 50% of the amount of tolls paid
by an individual during the taxable year. Provides that the tax credit
may not exceed an individual's adjusted gross income tax liability.
Effective: January 1, 2014.
January 15, 2013, read first time and referred to Committee on Tax and Fiscal Policy.
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Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(1) fifty percent (50%) of the amount of the tolls paid by the individual during the taxable year to drive on the Indiana toll road for a nonbusiness purpose; or
(2) three hundred dollars ($300).
(b) Notwithstanding subsection (a), the credit permitted under this section may not exceed the amount of the adjusted gross income tax imposed by IC 6-3-1 through IC 6-3-7 for the taxable year, reduced by the sum of all credits (as determined without regard to this section) allowed by IC 6-3-1 through IC 6-3-7.
(c) To receive the credit provided by this section, an individual must claim the credit on the individual's annual state tax return in
the manner prescribed by the department. The individual shall
submit to the department all information that the department
determines is necessary for the calculation of the credit provided
by this section.
(b) This SECTION expires January 1, 2018.
