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| 2 | 2 | | Introduced Version |
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| 3 | 3 | | SENATE BILL No. 198 |
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| 4 | 4 | | _____ |
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| 5 | 5 | | DIGEST OF INTRODUCED BILL |
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| 6 | 6 | | Citations Affected: IC 6-3-2-6. |
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| 7 | 7 | | Synopsis: Renter's deduction. Increases the maximum renter's |
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| 8 | 8 | | deduction for income tax purposes from $3,000 to $6,000 per taxable |
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| 9 | 9 | | year. |
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| 10 | 10 | | Effective: January 1, 2025. |
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| 11 | 11 | | Taylor G |
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| 12 | 12 | | January 9, 2024, read first time and referred to Committee on Tax and Fiscal Policy. |
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| 13 | 13 | | 2024 IN 198—LS 6925/DI 120 Introduced |
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| 14 | 14 | | Second Regular Session of the 123rd General Assembly (2024) |
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| 15 | 15 | | PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana |
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| 16 | 16 | | Constitution) is being amended, the text of the existing provision will appear in this style type, |
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| 17 | 17 | | additions will appear in this style type, and deletions will appear in this style type. |
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| 18 | 18 | | Additions: Whenever a new statutory provision is being enacted (or a new constitutional |
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| 19 | 19 | | provision adopted), the text of the new provision will appear in this style type. Also, the |
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| 20 | 20 | | word NEW will appear in that style type in the introductory clause of each SECTION that adds |
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| 21 | 21 | | a new provision to the Indiana Code or the Indiana Constitution. |
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| 22 | 22 | | Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts |
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| 23 | 23 | | between statutes enacted by the 2023 Regular Session of the General Assembly. |
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| 24 | 24 | | SENATE BILL No. 198 |
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| 25 | 25 | | A BILL FOR AN ACT to amend the Indiana Code concerning |
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| 26 | 26 | | taxation. |
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| 27 | 27 | | Be it enacted by the General Assembly of the State of Indiana: |
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| 28 | 28 | | 1 SECTION 1. IC 6-3-2-6, AS AMENDED BY P.L.146-2020, |
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| 29 | 29 | | 2 SECTION 23, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE |
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| 30 | 30 | | 3 JANUARY 1, 2025]: Sec. 6. (a) Each taxable year, an individual who |
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| 31 | 31 | | 4 rents a dwelling for use as the individual's principal place of residence |
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| 32 | 32 | | 5 may deduct from the individual's adjusted gross income (as defined in |
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| 33 | 33 | | 6 IC 6-3-1-3.5(a)), the lesser of: |
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| 34 | 34 | | 7 (1) the amount of rent paid by the individual with respect to the |
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| 35 | 35 | | 8 dwelling during the taxable year; or |
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| 36 | 36 | | 9 (2) three six thousand dollars ($3,000). ($6,000). |
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| 37 | 37 | | 10 (b) Notwithstanding subsection (a): |
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| 38 | 38 | | 11 (1) a married couple filing a joint return for a particular taxable |
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| 39 | 39 | | 12 year may not claim a deduction under this section of more than |
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| 40 | 40 | | 13 three six thousand dollars ($3,000); ($6,000); and |
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| 41 | 41 | | 14 (2) a married individual filing a separate return for a particular |
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| 42 | 42 | | 15 taxable year may not claim a deduction under this section of more |
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| 43 | 43 | | 16 than one three thousand five hundred dollars ($1,500). ($3,000). |
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| 44 | 44 | | 17 (c) The deduction provided by this section does not apply to an |
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| 45 | 45 | | 2024 IN 198—LS 6925/DI 120 2 |
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| 46 | 46 | | 1 individual who rents a dwelling that is exempt from Indiana property |
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| 47 | 47 | | 2 tax. |
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| 48 | 48 | | 3 (d) For purposes of this section, a "dwelling" includes a single |
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| 49 | 49 | | 4 family dwelling and unit of a multi-family dwelling. |
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| 50 | 50 | | 2024 IN 198—LS 6925/DI 120 |
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