(INDIANAPOLIS) — The Indiana House of Representatives passed an amended version of Senate Bill 1 today by a vote of 65–29. The bill was amended yesterday to adjust the scope of business personal property (BPP) tax reform. The amendment removed language that would have phased out the BPP tax entirely but significantly increases the de minimis exemption threshold and narrows application of the 30% depreciation floor. Indiana Chamber President and CEO Vanessa Green Sinders comments:
“This is a smart, pro-growth reform that will reduce compliance burdens and unlock investment across Indiana. Increasing the de minimis threshold and exempting new equipment from the 30% depreciation floor directly benefits small- and medium-sized business owners in every corner of the state.
“These changes help create a more attractive climate for capital investment and support the continued growth of key industries in Indiana. Modernizing our personal property tax structure is essential to maintaining a competitive edge – particularly as neighboring states work to strengthen their own business environments.
“It’s important to recognize that when Indiana employers grow, the entire state benefits – through higher wages, more employment opportunities and increased revenues that support essential public services. This is not a zero-sum debate between homeowners and businesses. It’s about building a stronger economy that works for all Hoosiers.
“We appreciate Governor Braun’s leadership and commend Speaker Huston and President Pro Tem Bray for advancing a forward-looking reform package that positions Indiana for long-term economic success. We urge the Senate to concur and finalize this important legislation.”
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The Indiana Chamber partners with 25,000 members and investors – representing over four million Hoosiers – to achieve the mission of “cultivating a world-class environment which provides economic opportunity and prosperity.”
