SB 281 IN

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Passed One Chamber

Requires the Indiana economic development corporation (IEDC) to commit $35,000,000 in redevelopment tax credits each state fiscal year among development authorities, qualified nonprofit organizations, and certain local economic development organizations that may be granted to taxpayers for qualified investments. Provides that the IEDC and an operating partner shall administer the federal Unmanned Aircraft System Test Site program in Indiana. Requires that $15,000,000 of the $300,000,000 of the IEDC's annual certifiable tax credit amount must be allocated to the small town opportunity initiative (initiative). Establishes the initiative. Provides that initiative projects are not subject to any statutory or administrative repayment obligation. 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. 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.

• Greg Goode Republican · author
• Ryan Mishler Republican · author
• David Niezgodski Democratic · author
• Danny Lopez Republican · sponsor

1. Jan 12, 2026 Authored by Senator Goode · upper
2. Jan 12, 2026 First reading: referred to Committee on Tax and Fiscal Policy · upper
3. Jan 20, 2026 Committee report: amend do pass, adopted · upper
4. Jan 26, 2026 Senator Niezgodski added as third author · upper
5. Jan 26, 2026 Senator Mishler added as second author · upper
6. Jan 27, 2026 Second reading: amended, ordered engrossed · upper
7. Jan 27, 2026 Amendment #2 (Mishler) prevailed; voice vote · upper
8. Jan 29, 2026 Referred to the House · upper
9. Jan 29, 2026 House sponsor: Representative Snow · upper
10. Jan 29, 2026 Third reading: passed; Roll Call 142: yeas 42, nays 6 · upper
11. Feb 2, 2026 First reading: referred to Committee on Ways and Means · lower
12. Feb 5, 2026 Representative Snow added as cosponsor · lower
13. Feb 5, 2026 Representative Snow removed as sponsor · lower
14. Feb 5, 2026 Representative Lopez added as sponsor · lower
15. Feb 12, 2026 Committee report: amend do pass, adopted · lower