Indiana Senate Bill 321 (Prior Session Legislation)

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Sponsorship: Slight Partisan Bill (Republican 4-2)
Status: Engrossed on January 31 2012 - 50% progression, died in chamber
Action: 2012-02-20 - Referred to Committee on Ways and Means pursuant to House Rule 127
Text: Latest bill text (Engrossed) [HTML]

Provides an income tax credit for new expenditures made before January 1, 2018, by a taxpayer for expenditures related to a project that will substantially enhance the logistics industry, create new jobs, preserve existing jobs that otherwise would be lost, increase wages in Indiana, and improve the overall Indiana economy. Specifies that covered expenditures include those for real property improvements related to a transportation or logistical distribution facility, improving the transportation of goods on Indiana highways, rail, water, and air, improving warehousing and logistical capabilities, and implementing required federal homeland security measures. Requires the Indiana economic development corporation (IEDC) to approve the credit . Requires the IEDC to make determinations in the award of the credit. Requires the taxpayer to enter into an agreement with the IEDC that covers the benefits of the project, the expected performance by the taxpayer, and the credit amount. Requires reports by the taxpayer to the IEDC and requires the IEDC to monitor the performance of the taxpayer. Provides that the amount of the approved credit for a taxable year may not exceed: (1) 25%; multiplied by (2) the amount of the new qualified expenditures made by the taxpayer during the taxable year. Limits the credit that may be claimed for a taxable year to the taxpayer's state tax liability for that taxable year. Allows the taxpayer to carry over any unused credit for nine years. Provides that the credit may not be refunded, carried back, or transferred to another taxpayer. Limits the credit to $20,000,000 for each state fiscal year. Requires the department of state revenue to annually report to the state budget committee concerning the use of the credit, including summary information and the name and address of each taxpayer claiming the credit and the credit amount claimed by each taxpayer. Requires the IEDC to report to the general assembly regarding the credit.

Transportation and logistics income tax credit.

Sen. Michael Delph [R]	Sen. Brandt Hershman [R]	Sen. Connie Lawson [R]	Sen. Lonnie Randolph [D]
Sen. Timothy Skinner [D]	Sen. Thomas Wyss [R]

2012-01-31 - Senate - Senate - Third reading: passed (Y: 49 N: 1 NV: 0 Abs: 0) [PASS]
2012-01-30 - Senate - Senate - Amendment 1 (Taylor), failed (Y: 13 N: 37 NV: 0 Abs: 0) [FAIL]

Date	Chamber	Action
2012-02-20		Referred to Committee on Ways and Means pursuant to House Rule 127
2012-02-20		Committee report: amend do pass, adopted
2012-02-09		First reading: referred to Committee on Commerce, Small Business and Economic Development
2012-01-31		Senator Delph added as coauthor
2012-01-31		Cosponsor: Rep. Stemler
2012-01-31		House sponsor: Rep. Thompson
2012-01-31		Referred to the House
2012-01-31		Third reading: passed; Roll Call 154: yeas 49, nays 1
2012-01-30		Senator Skinner added as coauthor
2012-01-30		Senator Randolph added as coauthor
2012-01-30		Amendment 2 (Skinner), failed; voice vote
2012-01-30		Amendment 1 (Taylor), failed; Roll Call 94: yeas 13, nays 37
2012-01-30		Amendment 3 (Kenley), prevailed; voice vote
2012-01-30		Second reading: amended, ordered engrossed
2012-01-25		Committee report: amend do pass, adopted
2012-01-05		First reading: referred to Committee on Tax and Fiscal Policy
2012-01-05		Authored by Senators Wyss, Lawson and Hershman

Type	Source
Summary	http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2012&session=1&request=getBill&doctype=SB&docno=0321
Text	http://www.in.gov/legislative/bills/2012/IN/IN0321.1.html
Text	http://www.in.gov/legislative/bills/2012/SB/SB0321.1.html
Text	http://www.in.gov/legislative/bills/2012/SB/SB0321.2.html
Text	http://www.in.gov/legislative/bills/2012/ES/ES0321.1.html
Roll Call	http://www.in.gov/legislative/bills/2012/PDF/Srollcal/0094.PDF.pdf
Roll Call	http://www.in.gov/legislative/bills/2012/PDF/Srollcal/0154.PDF.pdf