HOUSE BILL No. 1741
DIGEST OF INTRODUCED BILL
Synopsis: Enterprise zone employee wage deductions. Provides that
a person who resides in an enterprise zone and who performs services
as an employee of a nonprofit entity in the enterprise zone is eligible
for the enterprise zone qualified employee wage deduction under
Effective: January 1, 2002.
January 17, 2001, read first time and referred to Committee on Ways and Means.
First Regular Session 112th General Assembly (2001)
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HOUSE BILL No. 1741
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-3-2-8; (01)IN1741.1.1. -->
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2002]: Sec. 8. (a) For purposes of this
section, "qualified employee" means an individual who is employed by
by an employer exempt from adjusted gross income tax
(IC 6-3-1 through
IC6-3-2-2.8(3), (4), or (5)
2.8(3), 2.8(4), or 2.8(5),
or by a nonprofit entity,
(1) has the employee's principal place of residence in the
enterprise zone in which the employee is employed;
(2) performs services for the taxpayer,
employer, or the
ninety percent (90%) of which are directly
the conduct of the taxpayer's or employer's trade or
(B) the activities of the nonprofit entity;
located in an enterprise zone; and
(3) performs at least fifty percent (50%) of the employee's service
for the taxpayer,
or employer, or nonprofit entity during the
taxable year in the enterprise zone.
(b) Except as provided in subsection (c), a qualified employee is
entitled to a deduction from his adjusted gross income in each taxable
year in the amount of the lesser of:
(1) one-half (1/2) of his adjusted gross income for the taxable year
that he earns as a qualified employee; or
(2) seven thousand five hundred dollars ($7,500).
(c) No qualified employee is entitled to a deduction under this
section for a taxable year that begins after the termination of the
enterprise zone in which he resides.
SOURCE: ; (01)IN1741.1.2. -->
SECTION 2. [EFFECTIVE JANUARY 1, 2002]
amended by this act, applies only to taxable years beginning after
December 31, 2001.