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Indiana General Assembly
Senate Bill 0470


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Senate Bill 0470

ARCHIVE (2009)

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DIGEST OF SB470 (Updated February 24, 2009 3:59 pm - DI 84)

Automatic taxpayer refund. Provides for the return of a part of the state's year-end general fund surplus to Indiana residents in the form of a refundable adjusted gross income tax credit based on income taxes paid for the previous taxable year. Establishes the income tax reduction reserve and procedures to implement the credit program. Provides that the governor may issue an executive order to specify that the tax credit should not be granted. Makes an appropriation.
    Current Status:
     In Committee - 2nd House
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