IN HB1221 | 2015 | Regular Session

Status

Sponsorship: Slight Partisan Bill (Republican 3-1)
Status: Introduced on January 13 2015 - 25% progression, died in committee
Action: 2015-01-13 - First Reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Grants and tax credits for historic preservation. Authorizes the office of community and rural affairs (office) to administer a grant program for the preservation of historic properties. Provides that the income tax credit for the preservation of historic properties applies to the preservation or rehabilitation of historic properties that have been vacant for at least one year. Establishes four new methodologies for determining the amount of the tax credit. Provides that a property's adjusted basis is not reduced by the amount of the credit if a person is entitled to a federal low income housing tax credit. Changes numerous spending

Tracking Information

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Title

Grants and tax credits for historic preservation. Authorizes the office of community and rural affairs (office) to administer a grant program for the preservation of historic properties. Provides that the income tax credit for the preservation of historic properties applies to the preservation or rehabilitation of historic properties that have been vacant for at least one year. Establishes four new methodologies for determining the amount of the tax credit. Provides that a property's adjusted basis is not reduced by the amount of the credit if a person is entitled to a federal low income housing tax credit. Changes numerous spending

Sponsors


History

DateChamberAction
2015-01-13HouseFirst Reading: referred to Committee on Ways and Means
2015-01-13HouseCoauthored by Representatives Negele, Soliday, Dvorak
2015-01-13HouseAuthored by Representative Clere

Indiana State Sources


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