Indiana House Bill 1373 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 17 2023 - 25% progression, died in committee
Action: 2023-01-17 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Railroad investment tax credit. Provides that a railroad company that is classified as a Class II or Class III carrier is entitled to a credit against the railroad company's state income tax liability equal to 50% of the amount of qualified railroad expenditures or qualified new rail infrastructure expenditures made by the railroad company during the taxable year. Provides that: (1) for qualified railroad expenditures, the credit may not exceed an amount equal to the product of: (A) $5,000; multiplied by (B) the number of miles of railroad track owned or leased in Indiana by the taxpayer as of the close of the taxable year; and (2) the total amount of credits authorized for qualified railroad expenditures may not exceed $9,500,000 annually. Provides that: (1) for qualified new rail infrastructure expenditures, the amount of the credit may not exceed $500,000 for each project; and (2) the total amount of credits authorized for qualified new rail infrastructure expenditures may not exceed $10,000,000 annually.

Railroad investment tax credit.

Rep. Dave Heine [R]

Date	Chamber	Action
2023-01-17	House	First reading: referred to Committee on Ways and Means
2023-01-17	House	Authored by Representative Heine

Type	Source
Summary	https://iga.in.gov/legislative/2023/bills/house/1373/details
Text	https://iga.in.gov/legislative/2023/bills/house/1373/#1.INTR