Indiana House Bill 1409 (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]

Local income tax excess balance. Requires the budget agency to make a supplemental distribution to a county from the county's trust account if the budget agency determines that the balance in the county's trust account exceeds 11% (which is a decrease from 15% under current law) of the certified distributions to be made to the county in a determination year. Provides that the amount of the supplemental distribution is equal to the amount by which: (1) the balance in the county trust account; minus (2) the amount of any supplemental or special distribution that has not yet been accounted for in the last known balance of the county's trust account; exceeds 11% (which is a decrease from 15% under current law) of the certified distributions to be made to the county in the determination year.

Local income tax excess balance.

Rep. Ben Smaltz [R]

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

Type	Source
Summary	https://iga.in.gov/legislative/2023/bills/house/1409/details
Text	https://iga.in.gov/legislative/2023/bills/house/1409/#1.INTR