HB 1406 IN

0likes☆Favorite🔕SubscribeShare

Became Law

Provides, in a county that uses a property tax statement as the notice of assessment, that the county treasurer must send a property tax statement to all property owners regardless of whether the property has any liability. Requires the county treasurer to indicate on the property tax statement whether a taxpayer's property tax liability for property taxes first due and payable in 2027 is less than the taxpayer's property tax liability for property taxes first due and payable in 2026. Requires the Indiana economic development corporation (IEDC) to report to the budget committee concerning any purchase or sale of land. Amends provisions regarding budget committee review of tax credits in determining the annual aggregate tax credit cap and specifies allocation of the credits. Provides that real property owned by certain Indiana nonprofit hospital systems is not exempt from property taxation under certain circumstances and unmet conditions. Provides that certain transfer fee covenants are limited only to transfers that involve the sale of property and do not include transactions where the property is gifted, donated, or transferred. Provides that personal property owned by certain entities remains subject to minimum valuation limitations. Amends provisions and revises the effective date for the rounding provisions for cash transactions with regard to the penny phaseout for payments to business entities in ESB 243-2026. Amends the percentage increase in a public library's proposed budget that determines whether the public library's proposed budget is subject to binding review by the applicable county, city, or town fiscal body. Allows the Delaware County executive to adopt an ordinance to consolidate the functions of a board, bureau, commission, authority, or any other similar entity authorized to administer funds received from the Delaware County: (1) innkeeper's tax; or (2) food and beverage tax; into a single, consolidated entity as designated in the consolidating ordinance. Adds certain organizations to the list of organizations for which conducted sales are exempt from state gross retail and use tax. Allows the city of Bedford to impose a food and beverage tax. Requires the IEDC to award $35,000,000 to development authorities each fiscal year that may be granted to taxpayers proposing a qualified investment in a qualified redevelopment site pursuant to a development plan. Establishes the small town opportunity initiative. Amends the venture capital investment tax credit (tax credit) to specify: (1) that certain investment policies of funds that qualify as a "qualified Indiana investment fund" apply only to investable capital, excluding management fees, legal fees, and other expenses incurred in the operation of the fund; (2) that a taxpayer is not prevented from combining individual tax credits of less than $10,000 for assignment; and (3) qualified business eligibility. Prohibits the IEDC from awarding an applicable tax credit to a taxpayer that is organized under the laws of a country that is a foreign adversary or that is otherwise related under certain circumstances to a country that is a foreign adversary. Requires the office of the secretary of family and social services and division of family resources to require a vendor to offer certain technology solutions to prevent theft of SNAP benefits when issuing a request for proposals. Provides that if a Level 2 certified technology park (park): (1) has reached the limit of deposits for a Level 2 park; (2) maintains its certification; and (3) is located within a qualified military base enhancement area; the park shall become a Level 3 park and may receive an additional annual incremental income tax deposit of up to $250,000 until July 1, 2029. Allows the budget agency to augment the appropriation to the grain buyers and warehouse licensing agency from the grain buyers and warehouse licensing agency license fee fund.

• Jeffrey Thompson Republican · author
• Travis Holdman Republican · sponsor
• Scott Baldwin Republican · sponsor

1. Jan 8, 2026 Authored by Representative Thompson · lower
2. Jan 8, 2026 First reading: referred to Committee on Ways and Means · lower
3. Jan 27, 2026 Committee report: amend do pass, adopted · lower
4. Jan 29, 2026 Second reading: ordered engrossed · lower
5. Feb 2, 2026 Senate sponsor: Senator Holdman · lower
6. Feb 2, 2026 Third reading: passed; Roll Call 186: yeas 92, nays 0 · lower
7. Feb 3, 2026 Referred to the Senate · lower
8. Feb 5, 2026 First reading: referred to Committee on Tax and Fiscal Policy · upper
9. Feb 17, 2026 Committee report: amend do pass, adopted · upper
10. Feb 17, 2026 Senator Baldwin added as second sponsor · upper
11. Feb 23, 2026 Second reading: ordered engrossed · upper
12. Feb 24, 2026 Third reading: passed; Roll Call 261: yeas 48, nays 0 · upper
13. Feb 25, 2026 House advisors appointed: Jordan, Prescott, Pryor · lower
14. Feb 25, 2026 House conferees appointed: Thompson, Porter · lower
15. Feb 25, 2026 Senate conferees appointed: Holdman, Hunley · upper
16. Feb 25, 2026 House dissented from Senate amendments · lower
17. Feb 25, 2026 Returned to the House with amendments · upper
18. Feb 25, 2026 Motion to dissent filed · lower
19. Feb 25, 2026 Senate advisors appointed: Baldwin, Niezgodski · upper
20. Mar 12, 2026 Signed by the Governor · executive
21. Mar 5, 2026 Signed by the President Pro Tempore · upper
22. Feb 27, 2026 CCR # 1 filed in the House · lower
23. Feb 27, 2026 CCR # 1 filed in the Senate · upper
24. Feb 27, 2026 Rules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 332: yeas 46, nays 1 · upper
25. Feb 27, 2026 Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 426: yeas 65, nays 31 · lower
26. Mar 2, 2026 Signed by the President of the Senate · upper
27. Mar 3, 2026 Signed by the Speaker · lower
28. Feb 27, 2026 Representative Porter removed as conferee · lower
29. Feb 27, 2026 Representative Snow added as conferee · lower
30. Feb 27, 2026 CCR # 1 filed in the House · lower
31. Mar 12, 2026 Public Law 162 · lower