Indiana 2024 Regular Session Status: Enacted Bipartisan · 5 R · 3 D cosponsors

SB 260 — Neighborhood and individual development incentives.

Last action — Signed by the Governor

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

This bill has been enacted into law. Introduced January 16, 2024. 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 (5 R · 3 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

Defines a "community based organization" as a private, nonprofit corporation whose board of directors is comprised of business, civic, and community leaders, and whose principal purpose includes the provision of low income housing. (Current law limits administration, through a financial institution, of an account to community development corporations.) Provides that: (1) the first $1,500 (rather than $800) is eligible for a state deposit in an individual's account; (2) the allocation, for each account that has been established, for not more than five years, is $3 for each $1 of the first $1,500 (rather than the first $400) an individual deposited into the individual's account; and (3) the amount of the allocation may not exceed $4,500 (rather than $2,400) for each account. Makes various changes to the administration of and procedure for claiming the neighborhood assistance tax credit and the individual development account tax credit. Removes a reference to an obsolete tax.

Bill Text

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

Read SB 260 on the official Indiana source →

Action History

  1. Signed by the Governor

  2. Public Law 124

  3. Signed by the President of the Senate

  4. Signed by the Speaker

  5. Signed by the President Pro Tempore

  6. Conference Committee Report 1: adopted by the Senate; Roll Call 301: yeas 48, nays 0

  7. Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 308: yeas 91, nays 0

  8. CCR # 1 filed in the House

  9. CCR # 1 filed in the Senate

  10. House advisors appointed: Ledbetter, Clere and Klinker

  11. House conferees appointed: Manning and Porter

  12. Senate advisors appointed: Hunley and Leising

  13. Concurrence withdrawn

  14. Motion to dissent filed

  15. Senate dissented from House amendments

  16. Senate conferees appointed: Becker and Randolph Lonnie M

  17. Returned to the Senate with amendments

  18. Motion to concur filed

  19. Third reading: passed; Roll Call 235: yeas 95, nays 0

  20. Representative Moed added as cosponsor

  21. Second reading: ordered engrossed

  22. Committee report: amend do pass, adopted

  23. Representative Porter added as cosponsor

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

  25. Referred to the House

  26. Senator Leising added as second author

  27. Third reading: passed; Roll Call 113: yeas 48, nays 0

  28. Cosponsor: Representative Ledbetter

  29. House sponsor: Representative Manning

  30. Senator Tomes added as coauthor

  31. Amendment #1 (Baldwin) prevailed; voice vote

  32. Senator Randolph added as coauthor

  33. Second reading: amended, ordered engrossed

  34. Committee report: do pass, adopted

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

  36. Authored by Senator Becker

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 housing
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 SB 260 do?
Defines a "community based organization" as a private, nonprofit corporation whose board of directors is comprised of business, civic, and community leaders, and whose principal purpose includes the provision of low income housing. (Current law limits administration, through a financial institution, of an account to community development corporations.) Provides that: (1) the first $1,500 (rather than $800) is eligible for a state deposit in an individual's account; (2) the allocation, for each account that has been established, for not more than five years, is $3 for each $1 of the first $1,500 (rather than the first $400) an individual deposited into the individual's account; and (3) the amount of the allocation may not exceed $4,500 (rather than $2,400) for each account. Makes various changes to the administration of and procedure for claiming the neighborhood assistance tax credit and the individual development account tax credit. Removes a reference to an obsolete tax.
Who sponsors SB 260?
SB 260 is sponsored by Justin Moed (Democrat), Gregory Porter (Democrat), Cindy Ledbetter (Republican), Ethan Manning (Republican), James Tomes (Republican), Lonnie Randolph (Democrat), Jean Leising (Republican), and Vaneta Becker (Republican).
What is the current status of SB 260?
This bill has been enacted into law. Introduced January 16, 2024. Enacted.
Where can I track SB 260?
Track SB 260 free on One Click Politics — get push/email alerts when it moves.

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