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Key Votes

SB 1 - Amends State Business Tax Rates - Key Vote

Indiana Key Votes

Jim Merritt, Jr. voted Yea (Passage) on this Legislation.

Read statements Jim Merritt, Jr. made in this general time period.

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Legislation - Conference Report Adopted (House) (63-37) - (Key vote)

Title: Amends State Business Tax Rates

Vote Smart's Synopsis:

Vote adopt a conference report and pass a bill that reduces certain state income tax rates and repeals certain tax credits.

Highlights:

Project Vote Smart staff and volunteers have provided this synopsis based on an initial review of the text and voting record of SB 1. We will continue to analyze the contents of this bill and will have more information available as soon as possible.

For further status information, call the Voter's Research Hotline at 1-888-VOTE-SMART (1-888-868-3762).

Legislation - Conference Report Adopted (Senate) (36-12) - (Key vote)

Title: Amends State Business Tax Rates

Vote Smart's Synopsis:

Vote adopt a conference report and pass a bill that reduces certain state income tax rates and repeals certain tax credits.

Highlights:

Project Vote Smart staff and volunteers have provided this synopsis based on an initial review of the text and voting record of SB 1. We will continue to analyze the contents of this bill and will have more information available as soon as possible.

For further status information, call the Voter's Research Hotline at 1-888-VOTE-SMART (1-888-868-3762).

Legislation - Bill Passed With Amendment (House) (63-36) -

Title: Amends State Business Tax Rates

Legislation - Bill Passed (Senate) (35-11) - (Key vote)

Title: Amends State Business Tax Rates

Vote Smart's Synopsis:

Vote to pass a bill that reduces certain state income tax rates and repeals certain tax credits.

Highlights:
  • Reduces the state corporate income tax rate and state franchise income tax rate from 6.5 percent to the following rates (Secs. 4 & 14):
    • 6.0 percent after June 30, 2016 and before July 1, 2017;
    • 5.5 percent after June 30, 2017 and before July 1, 2018;
    • 5.0 percent after June 30, 2018 and before July 1, 2019; and
    • 4.9 percent after June 30, 2019.
  • Exempts an individual’s business personal property from a county’s personal property tax if his or her business personal property in the county is valued less than $25,000 as reported for federal income tax purposes (Sec. 1). 
  • Defines “business personal property” as personal property used in a trade or business or otherwise held, used, or consumed in connection with the production of income (Sec. 1).
  • Establishes a commission on business personal property and business taxation that consists of certain individuals including, but not limited to, the following individuals (Sec. 16):
    • 1 individual nominated by the Indiana Association of Cities and Towns;
    • 1 individual nominated by the Indiana State Chamber of Commerce; and
    • 6 members of the Indiana Legislature appointed by the leaders of the majority and minority parties.  
  • Reduces the tax credit for a qualified research expense conducted in the State of Indiana beginning January 1, 2015 as follows (Sec. 6):
    • From 10 percent to 5 percent for qualified research expenses; or
    • From 15 percent to 7.5 percent for qualified research expenses less than $1 million. 
  • Repeals an income tax credit for a taxpayer who contributes to a postsecondary educational institution within Indiana or to a foundation operated solely for the benefit of a postsecondary educational institution beginning January 1, 2015 (Sec. 5).
  • Prohibits a taxpayer from claiming certain tax credits in a taxable year between December 31, 2014 and January 1, 2024 including, but not limited to, the following tax credits (Secs. 9-10 & 13):
    • A tax credit for the production and distribution of biodiesel or blended biodiesel; 
    • A tax credit for the production of ethanol; and
    • A tax credit for a new employer tax credit for “wages paid.”
  • Repeals the certain tax credits for taxpayers that include, but are not limited to, the following tax credits (Secs. 9-10 & 13):
    • Blended biodiesel tax credits on January 1, 2021;
    • Ethanol production tax credits on January 1, 2021; and
    • New employer tax credit on January 1, 2024.
Legislation - Introduced (Senate) -

Title: Amends State Business Tax Rates

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