HB 1303 IN

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Creates (beginning January 1, 2024) a stand-alone credit for contributions to Indiana ABLE accounts. Provides that a taxpayer is entitled to a credit against adjusted gross income tax equal to the least of: (1) 20% of the amount of the total contributions made by the taxpayer to an account or accounts of an Indiana ABLE 529A savings plan during the taxable year; (2) $500; or (3) the amount of the taxpayer's adjusted gross income tax for the taxable year, reduced by the sum of all allowable credits. Provides that a taxpayer is not entitled to a carryback, carryover, or refund of an unused credit. Provides that a taxpayer may not sell, assign, convey, or otherwise transfer the tax credit. Provides that an account owner of an Indiana ABLE 529A savings plan must repay all or a part of the credit in a taxable year in which any nonqualified withdrawal is made.

• Julie Olthoff Republican · author
• Travis Holdman Republican · sponsor
• Rick Niemeyer Republican · sponsor

1. Jan 11, 2022 Coauthored by Representatives Karickhoff and Davisson J. · lower
2. Jan 11, 2022 Authored by Representative Olthoff · lower
3. Jan 11, 2022 First reading: referred to Committee on Ways and Means · lower
4. Jan 20, 2022 Representative Clere added as coauthor · lower
5. Jan 24, 2022 Committee report: amend do pass, adopted · lower
6. Jan 26, 2022 Second reading: ordered engrossed · lower
7. Jan 31, 2022 Senate sponsors: Senators Holdman and Niemeyer · lower
8. Jan 31, 2022 Third reading: passed; Roll Call 147: yeas 92, nays 0 · lower
9. Feb 1, 2022 Referred to the Senate · lower
10. Feb 8, 2022 First reading: referred to Committee on Tax and Fiscal Policy · upper
11. Feb 17, 2022 Senator Randolph added as cosponsor · upper
12. Feb 22, 2022 Committee report: amend do pass, adopted · upper
13. Feb 24, 2022 Senator Becker added as cosponsor · upper
14. Feb 28, 2022 Second reading: ordered engrossed · upper
15. Mar 1, 2022 Third reading: passed; Roll Call 307: yeas 48, nays 0 · upper
16. Mar 2, 2022 Returned to the House with amendments · upper
17. Mar 2, 2022 Motion to dissent filed · lower
18. Mar 2, 2022 House dissented from Senate amendments · lower
19. Mar 2, 2022 House conferees appointed: Olthoff and Pryor · lower
20. Mar 2, 2022 House advisors appointed: Karickhoff, Engleman and Klinker · lower
21. Mar 2, 2022 Senate conferees appointed: Holdman and Randolph Lonnie M · upper
22. Mar 2, 2022 Senate advisors appointed: Niemeyer and Lanane · upper
23. Mar 7, 2022 Motion to concur filed · lower
24. Mar 7, 2022 House reconsidered and concurred in Senate amendments; Roll Call 345: yeas 94, nays 0 · lower
25. Mar 9, 2022 Signed by the Speaker · lower
26. Mar 9, 2022 Signed by the President Pro Tempore · upper
27. Mar 14, 2022 Signed by the Governor · executive
28. Mar 14, 2022 Public Law 122 · lower
29. Mar 14, 2022 Signed by the President of the Senate · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled House Bill (H) · Mar 7, 2022 · PDF
• Introduced House Bill (H) · Jan 11, 2022 · PDF
• House Bill (H) · Jan 24, 2022 · PDF
• House Bill (S) · Feb 22, 2022 · PDF