Introduced Version






HOUSE BILL No. 1442

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-3-2-6.

Synopsis: Renter's deduction. Increases the maximum renter's deduction for state income tax purposes from $3,000 to $6,000 for taxable years beginning after December 31, 2013.

Effective: July 1, 2013.





Moed, Forestal




    January 23, 2013, read first time and referred to Committee on Ways and Means.







Introduced

First Regular Session 118th General Assembly (2013)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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HOUSE BILL No. 1442



    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-3-2-6; (13)IN1442.1.1. -->     SECTION 1. IC 6-3-2-6, AS AMENDED BY P.L.146-2008, SECTION 318, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 6. (a) Each taxable year, an individual who rents a dwelling for use as the individual's principal place of residence may deduct from the individual's adjusted gross income (as defined in IC 6-3-1-3.5(a)), the lesser of:
        (1) the amount of rent paid by the individual with respect to the dwelling during the taxable year; or
        (2) three thousand dollars ($3,000), for taxable years beginning before January 1, 2014, or six thousand dollars ($6,000), for taxable years beginning after December 31, 2013.
    (b) Notwithstanding subsection (a), a husband and wife filing a joint adjusted gross income tax return for a particular taxable year may not claim a deduction under this section of more than:
         (1) three thousand dollars ($3,000), for taxable years beginning before January 1, 2014; or
        (2) six thousand dollars ($6,000), for taxable years beginning

after December 31, 2013.
    (c) The deduction provided by this section does not apply to an individual who rents a dwelling that is exempt from Indiana property tax.
    (d) For purposes of this section, a "dwelling" includes a single family dwelling and a unit of a multi-family dwelling.