Indiana 2023 Regular Session Status: In Committee 1 R cosponsors

HB 1373 — Railroad investment tax credit.

Last action — First reading: referred to Committee on Ways and Means

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

This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Provides that a railroad company that is classified as a Class II or Class III carrier is entitled to a credit against the railroad company's state income tax liability equal to 50% of the amount of qualified railroad expenditures or qualified new rail infrastructure expenditures made by the railroad company during the taxable year. Provides that: (1) for qualified railroad expenditures, the credit may not exceed an amount equal to the product of: (A) $5,000; multiplied by (B) the number of miles of railroad track owned or leased in Indiana by the taxpayer as of the close of the taxable year; and (2) the total amount of credits authorized for qualified railroad expenditures may not exceed $9,500,000 annually. Provides that: (1) for qualified new rail infrastructure expenditures, the amount of the credit may not exceed $500,000 for each project; and (2) the total amount of credits authorized for qualified new rail infrastructure expenditures may not exceed $10,000,000 annually.

Bill Text

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

Read HB 1373 on the official Indiana source →

Action History

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

  2. Authored by Representative Heine

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 149 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (149)

149 members have not signed on to this bill.

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"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.

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Subjects

taxation transportation
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Frequently asked questions

What does HB 1373 do?
Provides that a railroad company that is classified as a Class II or Class III carrier is entitled to a credit against the railroad company's state income tax liability equal to 50% of the amount of qualified railroad expenditures or qualified new rail infrastructure expenditures made by the railroad company during the taxable year. Provides that: (1) for qualified railroad expenditures, the credit may not exceed an amount equal to the product of: (A) $5,000; multiplied by (B) the number of miles of railroad track owned or leased in Indiana by the taxpayer as of the close of the taxable year; and (2) the total amount of credits authorized for qualified railroad expenditures may not exceed $9,500,000 annually. Provides that: (1) for qualified new rail infrastructure expenditures, the amount of the credit may not exceed $500,000 for each project; and (2) the total amount of credits authorized for qualified new rail infrastructure expenditures may not exceed $10,000,000 annually.
Who sponsors HB 1373?
HB 1373 is sponsored by Dave Heine (Republican).
What is the current status of HB 1373?
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 1373?
Track HB 1373 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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