Business Tax Measure Moving AheadPosted: Updated:
A Senate bill involving the state's business personal property tax has been approved by the House. The measure would give counties the option to eliminate the tax. A separate House bill also dealing with the issue could be voted on by the Senate today. Both measures could be combined before the end of the session, which is scheduled to wrap up later this month.
You can view House Bill 1001 by clicking here.
Senate Bill 1 has received some amendments along the way. You can view it by clicking here.
Our partners at The Times of Northwest Indiana report the nonpartisan Legislative Services Agency says the elimination of the tax would cost the state $136 million per year in revenue.
Those in favor of the cut, including Governor Mike Pence, say it would it would create more economic opportunities and remove another hurdle for job creation in the state.
Several mayors in the state, including Greg Ballard from Indianapolis and Duke Bennett from Terre Haute, have argued against cutting the tax. They say local governments cannot afford to make up the lost revenue.
Sources: Indiana General Assembly, The Times of Northwest Indiana