Indiana Senate Bill 223 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 4-0)
Status: Engrossed on January 26 2022 - 50% progression, died in committee
Action: 2022-01-31 - First reading: referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Engrossed) [PDF]

Venture capital investment tax credit. Adds veteran owned businesses (in addition to minority business enterprises and women's business enterprises) to a provision specifying the computation of the maximum amount of tax credits available for the provision of qualified investment capital to those businesses. Provides that if the total amount of tax credits that may be awarded by the Indiana economic development corporation (IEDC) exceeds the $20,000,000 maximum for a particular calendar year, the IEDC may borrow credits from the subsequent calendar year to facilitate investment of qualified investment capital to a qualified Indiana business or to a qualified Indiana investment fund at the end of a particular calendar year. Specifies that the borrowing of credits from a subsequent calendar year reduces the amount of credits available for the subsequent calendar year in an amount equal to the amount of credits borrowed in the preceding calendar year. Provides that the IEDC may borrow not more than 50% of the credits from a subsequent calendar year. Requires the department of state revenue (department) to annually determine the total amount of credits that were borrowed from each applicable calendar year and post the determined amount on the department's Internet web site.

Venture capital investment tax credit.

Sen. Scott Baldwin [R]

Sen. Travis Holdman [R]

Rep. Gerald Torr [R]

Rep. Chris Jeter [R]

2022-01-24 - Senate - Senate - Third reading (Y: 47 N: 0 NV: 0 Abs: 2) [PASS]
2022-01-18 - Senate - Senate - Committee Vote (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2022-01-31	House	First reading: referred to Committee on Ways and Means
2022-01-26	Senate	Referred to the House
2022-01-24	Senate	Senator Holdman added as second author
2022-01-24	Senate	Cosponsor: Representative Jeter C
2022-01-24	Senate	House sponsor: Representative Torr
2022-01-24	Senate	Third reading: passed; Roll Call 55: yeas 47, nays 0
2022-01-20	Senate	Amendment #1 (Holdman) prevailed; voice vote
2022-01-20	Senate	Second reading: amended, ordered engrossed
2022-01-18	Senate	Committee report: do pass, adopted
2022-01-10	Senate	Senator Walker K removed as second author
2022-01-06	Senate	Senator Walker K added as second author
2022-01-06	Senate	First reading: referred to Committee on Tax and Fiscal Policy
2022-01-06	Senate	Authored by Senator Baldwin

Type	Source
Summary	https://iga.in.gov/legislative/2022/bills/senate/223/details
Text	http://iga.in.gov/static-documents/2/4/8/9/24897285/SB0223.01.INTR.pdf
Text	http://iga.in.gov/static-documents/d/e/9/f/de9fa9af/SB0223.01.INTR.pdf
Text	http://iga.in.gov/static-documents/6/4/6/b/646b6788/SB0223.02.COMS.pdf
Text	http://iga.in.gov/static-documents/f/6/1/4/f61489c9/SB0223.02.COMS.pdf
Text	http://iga.in.gov/static-documents/0/0/9/e/009e4a36/SB0223.03.ENGS.pdf
Amendment	http://iga.in.gov/static-documents/0/f/d/d/0fddc64e/SB0223.02.COMS.AMS001.pdf
Supplement	http://iga.in.gov/static-documents/b/8/6/e/b86e85c7/SB0223.01.INTR.FN001.pdf
Supplement	http://iga.in.gov/static-documents/3/5/1/f/351f6014/SB0223.02.COMS.FN001.pdf
Supplement	http://iga.in.gov/static-documents/d/2/3/8/d2383b98/SB0223.01.INTR.CRS001.pdf
Supplement	http://iga.in.gov/static-documents/0/4/b/8/04b898f7/SB0223.03.ENGS.FN001.pdf
Supplement	http://iga.in.gov/static-documents/f/6/b/0/f6b0e101/SB0223.03.ENGS.FN002.pdf
Roll Call	http://iga.in.gov/static-documents/6/4/d/c/64dc01ca/SB0223.01.INTR.03.pdf
Roll Call	http://iga.in.gov/static-documents/e/e/c/d/eecd4adf/SB0223.55_S.pdf