Indiana Senate Bill 560 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 20 2015 - 25% progression, died in committee
Action: 2015-01-20 - First Reading: referred to Committee on Tax & Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [PDF]

Property taxes and sales and use taxes. Eliminates property taxes on primary residences (homesteads) and business personal property. Decreases the state sales and use tax rate from 7% to 5.5%. Provides that the sales and use tax applies to transactions involving services, except for legal services, health or mental health services (including insurance premiums for policies covering these services), and services provided for charitable tax exempt purposes. Deposits the increased sales and use tax revenue in the state general fund. Provides an annual state distribution to offset the property tax elimination for homesteads and business personal property based on the

Property taxes and sales and use taxes. Eliminates property taxes on primary residences (homesteads) and business personal property. Decreases the state sales and use tax rate from 7% to 5.5%. Provides that the sales and use tax applies to transactions involving services, except for legal services, health or mental health services (including insurance premiums for policies covering these services), and services provided for charitable tax exempt purposes. Deposits the increased sales and use tax revenue in the state general fund. Provides an annual state distribution to offset the property tax elimination for homesteads and business personal property based on the

Sen. Michael Young [R]

Sen. Brent Waltz [R]

Date	Chamber	Action
2015-01-20	Senate	First Reading: referred to Committee on Tax & Fiscal Policy
2015-01-20	Senate	Authored by Senator Young R Michael

Type	Source
Summary	https://iga.in.gov/legislative/2015/bills/senate/560/details
Text	http://iga.in.gov/static-documents/d/4/3/8/d4381e18/SB0560.01.INTR.pdf