SB 453

Bill Subjects

Agencies; Bureau Of Motor Vehicles (Bmv) Agencies; Department Of Revenue (Dor) Agencies; State Budget Agency (Sba) Alcohol And Tobacco; Tobacco And Nicotine Products Boards, Commissions, And Councils; Budget Committee Health; Physical Disabilities Higher Education; Financial Assistance (Including Student Assistance, Loans, Grants, And Fafsa) Natural Resources; Natural Gases And Carbon Dioxide Natural Resources; Oil And Gasoline Retail Merchants Sports And Athletics (Not Including Schools Or Higher Education Athletics) Taxes; Adjusted Gross Income Taxes Taxes; Credits Taxes; Fuel And Vehicle Taxes Taxes; Sales And Use Taxes Taxes; Tobacco Taxes

Abstract

Amends estimated quarterly tax payment provisions. Restructures tax collection requirements for kerosene to eliminate specialized tax filing. Streamlines the filing requirements for gasoline use tax to eliminate multiple filing requirements. Specifies the liability and remittance requirements for the gross retail tax, gasoline use tax, and other listed taxes in certain circumstances. Amends provisions that apply to passenger and household goods carriers. Amends the college savings tax credit. Replaces the term "college choice 529 education savings plan" with "Indiana529 plan". Expands the physician practice ownership tax credit (tax credit) against state tax liability to practicing physicians (instead of only primary care physicians) who have an ownership interest in a physician practice and meet other eligibility criteria. Provides that the total amount of tax credits awarded in a state fiscal year may not exceed $10,000,000. Makes a clarifying change to the closed system cartridge tax. Extends the renewal period from one year to two years for businesses licensed to collect the electronic cigarettes tax, closed systems cartridge tax, and other tobacco products tax. Specifies that the fiscal officer of an entity that has adopted an innkeeper's tax, a food and beverage tax, or an admissions tax must enter into an agreement with the department of state revenue (department) before the department provides certain information to the fiscal officer as required under current law. Specifies when certain tax information may be disclosed by the department. Provides for the transfer of certain funds from the bureau of motor vehicles commission fund to the motor carrier regulation fund. Makes a technical correction to the pass through entity tax. Amends provisions in the assessed value deduction for individuals who are blind or disabled. Provides certain sourcing rules for the adjusted gross income of an investment partnership. Defines "investment partnership". Strikes a provision in the pass through entity tax relating to the pass through or assignment of other tax credits to an electing entity. Specifies that an electing entity or pass through entity shall be permitted to claim a credit for taxes withheld or paid on the entity's behalf. Adds provisions allowing an electing entity to make elections to claim certain state tax liability credits and sets forth requirements that apply to those elections. Increases the employee threshold for purposes of eligibility for the health reimbursement arrangement income tax credit. Provides that a qualified taxpayer may not claim a credit for a health reimbursement arrangement established in a taxable year beginning before January 1, 2024. Provides that a person who commits a violation involving a consumer transaction entailing the transportation of passengers or household goods commits a deceptive act that is actionable by the attorney general and is subject to certain remedies and penalties. Specifies remittance procedures for the gasoline use tax. Specifies recapture procedures for certain reduced estimated tax payments. Provides that if the county council of Fountain County (county council) determines that the county jail revenue fund (jail fund) contains excess reserves, the county council may, before January 1, 2026, adopt a resolution to make a one time transfer from the jail fund to the county general fund to be used only for emergency management services within the county. Increases the amount of federal civil service annuity benefits that an individual or the individual's surviving spouse may deduct from adjusted gross income tax. Requires the office of the secretary of family and social services to apply to the United States Department of Health and Human Services for an amendment to each home and community based services Medicaid waiver to, when determining eligibility for an individual and the individual's spouse who have both applied for a home and community based services Medicaid waiver, use an asset limit threshold that equals the asset limit for a single individual multiplied by two. Reestablishes the deduction for aircraft entitling a taxpayer to a deduction from the assessed value of abatement property in each year in which the abatement property is subject to taxation for ad valorem property taxes. Allows a taxpayer to file an amended return claiming the deduction for taxable years during which the chapter previously providing the deduction was repealed. Provides a sales tax exemption for sales by agricultural commodity trade associations made at the state fair. Allows an individual to subtract certain investment interest payments in the calculation of the individual's Indiana adjusted gross income. Requires local units to make semiannual fire service reports to the state fire marshal which, in turn, is required to submit the data reported to the legislative council. Makes corresponding changes.