SB 223 IN

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Passed One Chamber

Adds veteran owned businesses (in addition to minority business enterprises and women's business enterprises) to a provision specifying the computation of the maximum amount of tax credits available for the provision of qualified investment capital to those businesses. Provides that if the total amount of tax credits that may be awarded by the Indiana economic development corporation (IEDC) exceeds the $20,000,000 maximum for a particular calendar year, the IEDC may borrow credits from the subsequent calendar year to facilitate investment of qualified investment capital to a qualified Indiana business or to a qualified Indiana investment fund at the end of a particular calendar year. Specifies that the borrowing of credits from a subsequent calendar year reduces the amount of credits available for the subsequent calendar year in an amount equal to the amount of credits borrowed in the preceding calendar year. Provides that the IEDC may borrow not more than 50% of the credits from a subsequent calendar year. Requires the department of state revenue (department) to annually determine the total amount of credits that were borrowed from each applicable calendar year and post the determined amount on the department's Internet web site.

• Scott Baldwin Republican · author
• Travis Holdman Republican · author
• Jerry Torr · sponsor

1. Jan 6, 2022 Authored by Senator Baldwin · upper
2. Jan 6, 2022 First reading: referred to Committee on Tax and Fiscal Policy · upper
3. Jan 6, 2022 Senator Walker K added as second author · upper
4. Jan 10, 2022 Senator Walker K removed as second author · upper
5. Jan 18, 2022 Committee report: do pass, adopted · upper
6. Jan 20, 2022 Amendment #1 (Holdman) prevailed; voice vote · upper
7. Jan 20, 2022 Second reading: amended, ordered engrossed · upper
8. Jan 24, 2022 Third reading: passed; Roll Call 55: yeas 47, nays 0 · upper
9. Jan 24, 2022 House sponsor: Representative Torr · upper
10. Jan 24, 2022 Cosponsor: Representative Jeter C · upper
11. Jan 24, 2022 Senator Holdman added as second author · upper
12. Jan 26, 2022 Referred to the House · upper
13. Jan 31, 2022 First reading: referred to Committee on Ways and Means · lower

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.

• Engrossed Senate Bill (S) · Jan 20, 2022 · PDF
• Introduced Senate Bill (S) · Jan 6, 2022 · PDF
• Senate Bill (S) · Jan 18, 2022 · PDF