IN SB0127 | 2021 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 5 2021 - 25% progression
Action: 2021-01-05 - First reading: referred to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Use of property as a short term rental. Provides that if a taxpayer rents the taxpayer's residential real property to a third party or third parties for more than 29 nights per year: (1) the taxpayer's personal property such as furnishings and equipment used in the taxpayer's residential real property is business personal property; (2) the taxpayer's residential real property does not qualify as a homestead; (3) the taxpayer is not entitled to the standard or supplemental homestead deductions; and (4) the taxpayer's residential real property is subject to the nonresidential real property circuit breaker tax credit rather than the homestead circuit breaker tax credit.

Tracking Information

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Title

Use of property as a short term rental.

Sponsors


History

DateChamberAction
2021-01-05SenateFirst reading: referred to Committee on Tax and Fiscal Policy
2021-01-05SenateAuthored by Senator Bohacek

Indiana State Sources


Bill Comments 750

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