Two bills that deal with business personal property taxation were killed this week by virtue of not receiving a vote before the committee deadline: SB 150 (Business Personal Property Tax Exemption), authored by Sen. Aaron Freeman (R-Indianapolis), and SB 378 (Assessment of Business Personal Property), authored by Sen. Brian Buchanan (R-Lebanon). These measures were heard by the Senate Tax and Fiscal Committee two weeks ago, but this week Chairman Travis Holdman (R-Markle) elected to pass on giving them a vote. He explained he is having difficulty with the idea of voting for any bills that could affect a local government’s’ revenue stream. Since both of these bills do that (at least to a very small degree), he has for now taken these initiatives off the table. The move is of relevance to the proponents of HB 1002 (the House tax package) – lead by the Governor and the Chamber – which, like SB 378, addresses the 30% minimum depreciation floor. We believe there is more discussion to be had on both of these bill subjects and will be working to find a way to address the concerns that have been raised.
Resource: Bill Waltz at (317) 264-6887 or email: bwaltz@indianachamber.com
