SB 281: Income tax credits.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

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.

Sponsors

Sponsors by party (alphabetical): Democratic 1 · Republican 4

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

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

Showing 12 most recent of 15 actions. Full history