Senate Approves Tax Cut, State Fair Alcohol Bills

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The Indiana Senate has passed two high-profile pieces of legislation. One is a package of tax cuts for many Indiana businesses. The other proposal would allow for alcohol sales during the Indiana State Fair. Both bills now head to the Indiana House.

The tax bill calls for a business personal property tax exemption for companies with the lowest assessed valuations and also includes a decrease in the corporate income tax rate.

You can see the Senate bill by clicking here.

The House passed its own version of a business personal property tax bill Thursday. That proposal would give counties the option to exempt companies from the tax.

Many local government leaders have expressed concern about Governor Mike Pence's call to phase the tax out completely, saying it would hurt already cash-strapped communities. Pence says he wants to eliminate the tax without "unduly burden" on local governments.

Alcohol at the State Fair has been banned since the late-1940s. During a recent interview on Inside INdiana Business Television, Executive Director Cindy Hoye said the sales could boost revenues by $200,000 annually.

You can view the bill by clicking here.

Sources: Indiana Senate, Inside INdiana Business