Indiana 2025 Regular Session Status: In Committee 1 R cosponsors

SB 368 — Homestead exemption for persons at least age 65.

Last action — First reading: referred to Committee on Tax and Fiscal Policy

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

This bill died with 2025 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment.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

Eliminates property taxes on primary residences for those who are at least 65 years of age (qualified homesteads) beginning with the assessment date on January 1 of the year that immediately succeeds the year in which the balance in the pension stabilization fund is sufficient to pay the liabilities of the pre-1996 account without the need for further appropriation by the general assembly. Requires the Indiana public retirement system to determine whether the balance of the pension stabilization fund is sufficient to pay the liabilities of the pre-1996 account without the need for an appropriation by the general assembly and certify the determination to the budget committee on or before March 1, 2026, and on or before March 1 of each odd-numbered year thereafter. Provides an annual state distribution to offset the property tax elimination for qualified homesteads based on the amount of property taxes that otherwise would be due on the qualified homesteads. Makes an ongoing appropriation.

Bill Text

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

Read SB 368 on the official Indiana source →

Action History

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

  2. Authored by Senator Young M

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 housing veterans
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Frequently asked questions

What does SB 368 do?
Eliminates property taxes on primary residences for those who are at least 65 years of age (qualified homesteads) beginning with the assessment date on January 1 of the year that immediately succeeds the year in which the balance in the pension stabilization fund is sufficient to pay the liabilities of the pre-1996 account without the need for further appropriation by the general assembly. Requires the Indiana public retirement system to determine whether the balance of the pension stabilization fund is sufficient to pay the liabilities of the pre-1996 account without the need for an appropriation by the general assembly and certify the determination to the budget committee on or before March 1, 2026, and on or before March 1 of each odd-numbered year thereafter. Provides an annual state distribution to offset the property tax elimination for qualified homesteads based on the amount of property taxes that otherwise would be due on the qualified homesteads. Makes an ongoing appropriation.
Who sponsors SB 368?
SB 368 is sponsored by Michael Young (Republican).
What is the current status of SB 368?
This bill died with 2025 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 SB 368?
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Last checked for changes 3 months ago · updated continuously

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