Indiana House Bill 1535 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 19 2023 - 25% progression, died in committee
Action: 2023-01-19 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

IDAs and neighborhood assistance credits. Replaces the term "community development corporation" in statutes concerning individual development accounts (IDA) with the term "community based organization" and makes conforming changes throughout the Indiana Code to reflect that change. Provides that: (1) $1,500 (rather than $800) is eligible for a state deposit in an individual's individual development account (account); (2) the allocation, for each account that has been established for not more than five years, is $3 for each $1 of the first $1,500 (rather than the first $400) an individual deposited into the individual's account during the preceding 12 months; and (3) the amount of the allocation may not exceed $4,500 (rather than $2,400) for each account. Makes various changes to the neighborhood assistance tax credit.

IDAs and neighborhood assistance credits.

Rep. Ethan Manning [R]

Date	Chamber	Action
2023-01-19	House	First reading: referred to Committee on Ways and Means
2023-01-19	House	Authored by Representative Manning

Type	Source
Summary	https://iga.in.gov/legislative/2023/bills/house/1535/details
Text	https://iga.in.gov/legislative/2023/bills/house/1535/#1.INTR