SB 497 IN

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Passed One Chamber

Establishes a tax credit for newborn children, which an eligible taxpayer may claim only in the first taxable year in which a particular newborn child is eligible for the exemption allowed under specified provisions of the Internal Revenue Code. Defines "eligible taxpayer". Provides that the amount of the credit is $500 per newborn child, or $250 per eligible newborn child in the case of a married individual filing a separate return. Prorates the credit in the case of a resident taxpayer residing in Indiana for a period of less than the taxpayer's entire taxable year. Limits the total amount of credits that may be awarded in a calendar year to $10,000. Provides for the expiration of the credit.

• Greg Walker Republican · author
• Stacey Donato Republican · author
• Rodney Pol Democratic · author
• Lori Goss-Reaves Republican · sponsor

1. Jan 14, 2025 First reading: referred to Committee on Tax and Fiscal Policy · upper
2. Jan 14, 2025 Authored by Senator Walker G · upper
3. Jan 16, 2025 Senator Donato added as second author · upper
4. Feb 6, 2025 Senator Niezgodski added as coauthor · upper
5. Feb 6, 2025 Senator Niemeyer added as coauthor · upper
6. Feb 6, 2025 Senators Holdman, Johnson T, Rogers, Qaddoura added as coauthors · upper
7. Feb 11, 2025 Senator Hunley added as coauthor · upper
8. Feb 11, 2025 Senator Randolph added as coauthor · upper
9. Feb 11, 2025 Committee report: amend do pass, adopted · upper
10. Feb 13, 2025 Senator Pol added as coauthor · upper
11. Feb 13, 2025 Second reading: ordered engrossed · upper
12. Feb 13, 2025 Senator Alting added as coauthor · upper
13. Feb 17, 2025 Senator Pol removed as coauthor · upper
14. Feb 17, 2025 Senator Yoder added as coauthor · upper
15. Feb 17, 2025 Senator Deery added as coauthor · upper
16. Feb 17, 2025 Senator Doriot added as coauthor · upper
17. Feb 17, 2025 Senator Pol added as third author · upper
18. Feb 20, 2025 Third reading: passed; Roll Call 207: yeas 47, nays 0 · upper
19. Feb 20, 2025 House sponsor: Representative Goss-Reaves · upper
20. Feb 20, 2025 Cosponsors: Representatives Clere, Heaton, Lauer · upper
21. Feb 21, 2025 Referred to the House · upper
22. Mar 3, 2025 First reading: referred to Committee on Ways and Means · lower