IndianaTax credit for newborn children.
What it does
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.
More detail
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.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Mar 3First reading: referred to Committee on Ways and MeansLatest
- Feb 21Referred to the HouseMinor
- Feb 20Cosponsors: Representatives Clere, Heaton, Lauer
- Vote recorded SB 497 - Walker G - 3rd Reading. Result: pass.Upper
- Feb 20House sponsor: Representative Goss-Reaves
- Feb 20Third reading: passed; Roll Call 207: yeas 47, nays 0Passed Senate
- Feb 17Senator Pol added as third author
- Feb 17Senator Doriot added as coauthor
- Feb 17Senator Deery added as coauthor
- Feb 17Senator Yoder added as coauthor
- Feb 17Senator Pol removed as coauthor
- Feb 13Senator Alting added as coauthor
- Feb 13Second reading: ordered engrossedMinor
- Feb 13Senator Pol added as coauthor
- Feb 11Committee report: amend do pass, adoptedMinor
- Feb 11Senator Randolph added as coauthor
- Feb 11Senator Hunley added as coauthor
- Feb 6Senators Holdman, Johnson T, Rogers, Qaddoura added as coauthors
- Feb 6Senator Niemeyer added as coauthor
- Feb 6Senator Niezgodski added as coauthor
- Jan 16Senator Donato added as second author
- Jan 14Authored by Senator Walker G
- Jan 14First reading: referred to Committee on Tax and Fiscal PolicyIntroduced