Indiana 2022 Regular Session Status: Enacted Bipartisan · 6 R · 1 D cosponsors

HB 1303 — Tax credit for ABLE account contributions.

Last action — Signed by the President of the Senate

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 11, 2022. Enacted.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 78% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 8 sponsors

    3 primary, 5 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (6 R · 1 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Creates (beginning January 1, 2024) a stand-alone credit for contributions to Indiana ABLE accounts. Provides that a taxpayer is entitled to a credit against adjusted gross income tax equal to the least of: (1) 20% of the amount of the total contributions made by the taxpayer to an account or accounts of an Indiana ABLE 529A savings plan during the taxable year; (2) $500; or (3) the amount of the taxpayer's adjusted gross income tax for the taxable year, reduced by the sum of all allowable credits. Provides that a taxpayer is not entitled to a carryback, carryover, or refund of an unused credit. Provides that a taxpayer may not sell, assign, convey, or otherwise transfer the tax credit. Provides that an account owner of an Indiana ABLE 529A savings plan must repay all or a part of the credit in a taxable year in which any nonqualified withdrawal is made.

Bill Text

We don't have the full text on file for this bill yet.

Read HB 1303 on the official Indiana source →

Action History

  1. Signed by the President of the Senate

  2. Public Law 122

  3. Signed by the Governor

  4. Signed by the President Pro Tempore

  5. Signed by the Speaker

  6. House reconsidered and concurred in Senate amendments; Roll Call 345: yeas 94, nays 0

  7. Motion to concur filed

  8. Senate advisors appointed: Niemeyer and Lanane

  9. Senate conferees appointed: Holdman and Randolph Lonnie M

  10. House advisors appointed: Karickhoff, Engleman and Klinker

  11. House conferees appointed: Olthoff and Pryor

  12. House dissented from Senate amendments

  13. Motion to dissent filed

  14. Returned to the House with amendments

  15. Third reading: passed; Roll Call 307: yeas 48, nays 0

  16. Second reading: ordered engrossed

  17. Senator Becker added as cosponsor

  18. Committee report: amend do pass, adopted

  19. Senator Randolph added as cosponsor

  20. First reading: referred to Committee on Tax and Fiscal Policy

  21. Referred to the Senate

  22. Third reading: passed; Roll Call 147: yeas 92, nays 0

  23. Senate sponsors: Senators Holdman and Niemeyer

  24. Second reading: ordered engrossed

  25. Committee report: amend do pass, adopted

  26. Representative Clere added as coauthor

  27. First reading: referred to Committee on Ways and Means

  28. Authored by Representative Olthoff

  29. Coauthored by Representatives Karickhoff and Davisson J.

Sponsors

Sponsorship breakdown

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3 sponsors · 5 co-sponsors · 142 not signed on

Sponsors (3)

Co-sponsors (5)

Not signed on (142)

142 members have not signed on to this bill.

Show all 142 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 1303 do?
Creates (beginning January 1, 2024) a stand-alone credit for contributions to Indiana ABLE accounts. Provides that a taxpayer is entitled to a credit against adjusted gross income tax equal to the least of: (1) 20% of the amount of the total contributions made by the taxpayer to an account or accounts of an Indiana ABLE 529A savings plan during the taxable year; (2) $500; or (3) the amount of the taxpayer's adjusted gross income tax for the taxable year, reduced by the sum of all allowable credits. Provides that a taxpayer is not entitled to a carryback, carryover, or refund of an unused credit. Provides that a taxpayer may not sell, assign, convey, or otherwise transfer the tax credit. Provides that an account owner of an Indiana ABLE 529A savings plan must repay all or a part of the credit in a taxable year in which any nonqualified withdrawal is made.
Who sponsors HB 1303?
HB 1303 is sponsored by Julie Olthoff (Republican), Michael Karickhoff (Republican), Edward Clere (Republican), Travis Holdman (Republican), Rick Niemeyer (Republican), Lonnie Randolph (Democrat), Vaneta Becker (Republican), and Davisson, J..
What is the current status of HB 1303?
This bill has been enacted into law. Introduced January 11, 2022. Enacted.
Where can I track HB 1303?
Track HB 1303 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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