*ES0451.1*
March 27, 2025
ENGROSSED
SENATE BILL No. 451
_____
DIGEST OF SB 451 (Updated March 26, 2025 4:00 pm - DI 125)
Citations Affected: IC 6-3.
Synopsis: Income tax rate. Provides for a decrease in the individual
adjusted gross income tax rate beginning in 2030 depending on certain
conditions being met.
Effective: July 1, 2025.
Holdman, Baldwin, Rogers,
Johnson T, Gaskill, Walker K, Garten,
Randolph Lonnie M, Buchanan
(HOUSE SPONSORS — THOMPSON, SNOW, LEHMAN, O'BRIEN)
January 13, 2025, read first time and referred to Committee on Tax and Fiscal Policy.
January 21, 2025, amended, reported favorably — Do Pass.
January 23, 2025, read second time, ordered engrossed. Engrossed.
January 28, 2025, read third time, passed. Yeas 49, nays 0.
HOUSE ACTION
March 3, 2025, read first time and referred to Committee on Ways and Means.
March 27, 2025, amended, reported — Do Pass.
ES 451—LS 6727/DI 120 March 27, 2025
First Regular Session of the 124th General Assembly (2025)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2024 Regular Session of the General Assembly.
ENGROSSED
SENATE BILL No. 451
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
1 SECTION 1. IC 6-3-2-1, AS AMENDED BY P.L.201-2023,
2 SECTION 95, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
3 JULY 1, 2025]: Sec. 1. (a) As used in this section, "state fiscal year"
4 means the annual period commencing July 1 of a given year and
5 ending June 30 of the following year.
6 (b) Each taxable year, a tax at the following rate of adjusted gross
7 income is imposed upon the adjusted gross income of every resident
8 person, and on that part of the adjusted gross income derived from
9 sources within Indiana of every nonresident person:
10 (1) For taxable years beginning before January 1, 2015, three and
11 four-tenths percent (3.4%).
12 (2) For taxable years beginning after December 31, 2014, and
13 before January 1, 2017, three and three-tenths percent (3.3%).
14 (3) For taxable years beginning after December 31, 2016, and
15 before January 1, 2023, three and twenty-three hundredths percent
16 (3.23%).
17 (4) For taxable years beginning after December 31, 2022, and
ES 451—LS 6727/DI 120 2
1 before January 1, 2024, three and fifteen hundredths percent
2 (3.15%).
3 (5) For taxable years beginning after December 31, 2023, and
4 before January 1, 2025, three and five-hundredths percent
5 (3.05%).
6 (6) For taxable years beginning after December 31, 2024, and
7 before January 1, 2026, three percent (3%).
8 (7) For taxable years beginning after December 31, 2025, and
9 before January 1, 2027, two and ninety-five hundredths percent
10 (2.95%).
11 (8) For taxable years beginning after December 31, 2026, and
12 before January 1, 2030, two and nine-tenths percent (2.9%).
13 (9) For taxable years beginning after December 31, 2029, and
14 before January 1, 2032, if, as determined by the budget
15 agency under subsection (e), the:
16 (A) state general fund revenue collections in each of the
17 state fiscal years ending:
18 (i) June 30, 2025;
19 (ii) June 30, 2026;
20 (iii) June 30, 2027; and
21 (iv) June 30, 2028;
22 exceed by at least three and one-half percent (3.5%) the
23 state general fund revenue collections for the respective
24 immediately preceding state fiscal year; and
25 (B) amount of forecasted state general fund revenue
26 collections for the state fiscal year ending June 30, 2029,
27 are estimated to exceed by at least three and one-half
28 percent (3.5%) the state general fund revenue collections
29 in the state fiscal year ending June 30, 2028;
30 the tax rate shall be decreased by the percentage point of five
31 one-hundredths of one percent (0.05%) beginning January 1
32 of the even-numbered year immediately succeeding the year
33 of the budget agency determination under subsection (e).
34 (10) For taxable years beginning after December 31, 2031, and
35 before January 1, 2034, if, as determined by the budget
36 agency under subsection (e), the:
37 (A) state general fund revenue collections in each of the
38 state fiscal years ending:
39 (i) June 30, 2027;
40 (ii) June 30, 2028;
41 (iii) June 30, 2029; and
42 (iv) June 30, 2030;
ES 451—LS 6727/DI 120 3
1 exceed by at least three and one-half percent (3.5%) the
2 state general fund revenue collections for the respective
3 immediately preceding state fiscal year; and
4 (B) amount of forecasted state general fund revenue
5 collections for the state fiscal year ending June 30, 2031,
6 are estimated to exceed by at least three and one-half
7 percent (3.5%) the state general fund revenue collections
8 in the state fiscal year ending June 30, 2030;
9 the tax rate shall be decreased by the percentage point of five
10 one-hundredths of one percent (0.05%) beginning January 1
11 of the even-numbered year immediately succeeding the year
12 of the budget agency determination under subsection (e).
13 (11) For taxable years beginning after December 31, 2033, and
14 before January 1, 2036, if, as determined by the budget
15 agency under subsection (e), the:
16 (A) state general fund revenue collections in each of the
17 state fiscal years ending:
18 (i) June 30, 2029;
19 (ii) June 30, 2030;
20 (iii) June 30, 2031; and
21 (iv) June 30, 2032;
22 exceed by at least three and one-half percent (3.5%) the
23 state general fund revenue collections for the respective
24 immediately preceding state fiscal year; and
25 (B) amount of forecasted state general fund revenue
26 collections for the state fiscal year ending June 30, 2033,
27 are estimated to exceed by at least three and one-half
28 percent (3.5%) the state general fund revenue collections
29 in the state fiscal year ending June 30, 2032;
30 the tax rate shall be decreased by the percentage point of five
31 one-hundredths of one percent (0.05%) beginning January 1
32 of the even-numbered year immediately succeeding the year
33 of the budget agency determination under subsection (e).
34 (12) For taxable years beginning after December 31, 2035, and
35 before January 1, 2038, if, as determined by the budget
36 agency under subsection (e), the:
37 (A) state general fund revenue collections in each of the
38 state fiscal years ending:
39 (i) June 30, 2031;
40 (ii) June 30, 2032;
41 (iii) June 30, 2033; and
42 (iv) June 30, 2034;
ES 451—LS 6727/DI 120 4
1 exceed by at least three and one-half percent (3.5%) the
2 state general fund revenue collections for the respective
3 immediately preceding state fiscal year; and
4 (B) amount of forecasted state general fund revenue
5 collections for the state fiscal year ending June 30, 2035,
6 are estimated to exceed by at least three and one-half
7 percent (3.5%) the state general fund revenue collections
8 in the state fiscal year ending June 30, 2034;
9 the tax rate shall be decreased by the percentage point of five
10 one-hundredths of one percent (0.05%) beginning January 1
11 of the even-numbered year immediately succeeding the year
12 of the budget agency determination under subsection (e).
13 (13) For taxable years beginning after December 31, 2037, and
14 before January 1, 2040, if, as determined by the budget
15 agency under subsection (e), the:
16 (A) state general fund revenue collections in each of the
17 state fiscal years ending:
18 (i) June 30, 2033;
19 (ii) June 30, 2034;
20 (iii) June 30, 2035; and
21 (iv) June 30, 2036;
22 exceed by at least three and one-half percent (3.5%) the
23 state general fund revenue collections for the respective
24 immediately preceding state fiscal year; and
25 (B) amount of forecasted state general fund revenue
26 collections for the state fiscal year ending June 30, 2037,
27 are estimated to exceed by at least three and one-half
28 percent (3.5%) the state general fund revenue collections
29 in the state fiscal year ending June 30, 2036;
30 the tax rate shall be decreased by the percentage point of five
31 one-hundredths of one percent (0.05%) beginning January 1
32 of the even-numbered year immediately succeeding the year
33 of the budget agency determination under subsection (e).
34 (14) For taxable years beginning after December 31, 2039, and
35 before January 1, 2042, if, as determined by the budget
36 agency under subsection (e), the:
37 (A) state general fund revenue collections in each of the
38 state fiscal years ending:
39 (i) June 30, 2035;
40 (ii) June 30, 2036;
41 (iii) June 30, 2037; and
42 (iv) June 30, 2038;
ES 451—LS 6727/DI 120 5
1 exceeds by at least three and one-half percent (3.5%) the
2 state general fund revenue collections for the respective
3 immediately preceding state fiscal year; and
4 (B) amount of forecasted state general fund revenue
5 collections for the state fiscal year ending June 30, 2039,
6 are estimated to exceed by at least three and one-half
7 percent (3.5%) the state general fund revenue collections
8 in the state fiscal year ending June 30, 2038;
9 the tax rate shall be decreased by the percentage point of five
10 one-hundredths of one percent (0.05%) beginning January 1
11 of the even-numbered year immediately succeeding the year
12 of the budget agency determination under subsection (e).
13 (15) For taxable years beginning after December 31, 2041, and
14 before January 1, 2044, if, as determined by the budget
15 agency under subsection (e), the:
16 (A) state general fund revenue collections in each of the
17 state fiscal years ending:
18 (i) June 30, 2037;
19 (ii) June 30, 2038;
20 (iii) June 30, 2039; and
21 (iv) June 30, 2040;
22 exceeds by at least three and one-half percent (3.5%) the
23 state general fund revenue collections for the respective
24 immediately preceding state fiscal year; and
25 (B) amount of forecasted state general fund revenue
26 collections for the state fiscal year ending June 30, 2041,
27 are estimated to exceed by at least three and one-half
28 percent (3.5%) the state general fund revenue collections
29 in the state fiscal year ending June 30, 2040;
30 the tax rate shall be decreased by the percentage point of five
31 one-hundredths of one percent (0.05%) beginning January 1
32 of the even-numbered year immediately succeeding the year
33 of the budget agency determination under subsection (e).
34 (16) For taxable years beginning after December 31, 2043, the
35 tax rate in effect in taxable years beginning after December
36 31, 2042, remains in effect.
37 (b) (c) Except as provided in section 1.5 of this chapter (before its
38 expiration), each taxable year, a tax at the following rate of adjusted
39 gross income is imposed on that part of the adjusted gross income
40 derived from sources within Indiana of every corporation:
41 (1) Before July 1, 2012, eight and five-tenths percent (8.5%).
42 (2) After June 30, 2012, and before July 1, 2013, eight percent
ES 451—LS 6727/DI 120 6
1 (8.0%).
2 (3) After June 30, 2013, and before July 1, 2014, seven and
3 five-tenths percent (7.5%).
4 (4) After June 30, 2014, and before July 1, 2015, seven percent
5 (7.0%).
6 (5) After June 30, 2015, and before July 1, 2016, six and
7 five-tenths percent (6.5%).
8 (6) After June 30, 2016, and before July 1, 2017, six and
9 twenty-five hundredths percent (6.25%).
10 (7) After June 30, 2017, and before July 1, 2018, six percent
11 (6.0%).
12 (8) After June 30, 2018, and before July 1, 2019, five and
13 seventy-five hundredths percent (5.75%).
14 (9) After June 30, 2019, and before July 1, 2020, five and
15 five-tenths percent (5.5%).
16 (10) After June 30, 2020, and before July 1, 2021, five and
17 twenty-five hundredths percent (5.25%).
18 (11) After June 30, 2021, four and nine-tenths percent (4.9%).
19 (c) (d) If for any taxable year a taxpayer is subject to different tax
20 rates under subsection (b), (c), the taxpayer's tax rate for that taxable
21 year is the rate determined in the last STEP of the following STEPS:
22 STEP ONE: Multiply the number of days in the taxpayer's taxable
23 year that precede the day the rate changed by the rate in effect
24 before the rate change.
25 STEP TWO: Multiply the number of days in the taxpayer's
26 taxable year that follow the day before the rate changed by the
27 rate in effect after the rate change.
28 STEP THREE: Divide the sum of the amounts determined under
29 STEPS ONE and TWO by the number of days in the taxpayer's
30 tax period.
31 However, the rate determined under this subsection shall be rounded
32 to the nearest one-hundredth of one percent (0.01%).
33 (e) This subsection applies beginning in 2028, and applies in
34 each even-numbered year thereafter until 2043. After the end of
35 each even-numbered state fiscal year, the budget agency shall
36 calculate and compare the percentage of revenue growth in state
37 general fund revenue collections between state fiscal years as
38 described in subsection (b)(9) through (b)(15), including the
39 comparison of the percentage of revenue growth between the
40 amount of forecasted state general fund revenue collections for
41 particular state fiscal years and the actual state general fund
42 revenue collections for particular state fiscal years, to determine
ES 451—LS 6727/DI 120 7
1 whether the conditions described in subsection (b)(9) through
2 (b)(15) are satisfied. The budget agency shall make the calculation
3 not later than thirty (30) days after the end of each even-numbered
4 state fiscal year. Not later than September 1 of each
5 even-numbered calendar year, the budget agency shall certify the
6 results to the department and to the legislative council, and report
7 to the state budget committee for review the following:
8 (1) The percentage of revenue growth determined under this
9 subsection.
10 (2) The adjusted gross income tax rate determination made
11 for the following even-numbered year under this subsection.
12 Not later than November 1 of each odd-numbered calendar year,
13 the department shall provide notice of the determination and the
14 applicable tax rates for each even-numbered calendar year under
15 subsection (b) on the department's website in a departmental
16 notice.
17 SECTION 2. IC 6-3-2-1.7, AS ADDED BY P.L.137-2022,
18 SECTION 34, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
19 JULY 1, 2025]: Sec. 1.7. (a) For purposes of this section:
20 (1) "Distributor" means a person or entity located in this state that
21 purchases tangible personal property from an eligible corporation
22 for purposes of resale. For purposes of this section, a distributor
23 is not a person or entity that has a relationship described in
24 Section 267(b) of the Internal Revenue Code with the eligible
25 corporation.
26 (2) "Eligible corporation" means a corporation otherwise subject
27 to tax under section 1(b) 1(c) of this chapter. An eligible
28 corporation shall not include a corporation described in section
29 2.8(2) of this chapter or a corporation subject to tax under
30 IC 6-5.5.
31 (3) "Qualifying distribution sale" means a sale of tangible
32 personal property by an eligible corporation to a distributor that:
33 (A) is a purchase for resale by the distributor as defined in
34 IC 6-2.5-5-8; and
35 (B) for which the sourcing of the sale of the property to an
36 ultimate customer outside Indiana is agreed to by the
37 department and the eligible corporation, or, in the absence of
38 an agreement, sourced by the ratio of the population of Indiana
39 compared to the population of all states in which the qualified
40 distribution sales are sold to an ultimate customer.
41 For purposes of this section, a qualifying distribution sale shall
42 not include any sale for which the distributor does not issue an
ES 451—LS 6727/DI 120 8
1 exemption certificate in the manner provided by the department
2 under IC 6-2.5-8-8 or a purchase by the distributor for the
3 distributor's own use other than for resale. A qualifying
4 distribution sale shall not include any sale made by a pass through
5 entity that would otherwise be attributable under this article to the
6 eligible corporation.
7 (4) "Ultimate customer" means a purchaser of tangible personal
8 property who purchases the tangible personal property without an
9 intent of future resale of property.
10 (b) If an eligible corporation has greater than one billion dollars
11 ($1,000,000,000) of tangible personal property sales that otherwise
12 would be sourced to this state under section 2(e) of this chapter, and
13 would have an apportionment percentage under section 2 of this
14 chapter of greater than ten percent (10%) prior to application of this
15 section the eligible corporation may elect to determine its tax as
16 follows:
17 STEP ONE: Determine the apportionment percentage under
18 sections 2 and 2.2 of this chapter, treating qualifying distribution
19 sales as if they were not receipts for purposes of the
20 apportionment numerator, but treating the portion where the
21 ultimate customer would be located in Indiana as part of the
22 receipts numerator.
23 STEP TWO: Determine Indiana adjusted gross income in the
24 manner otherwise provided in this article, applying the
25 apportionment percentage in STEP ONE. For purposes of this
26 STEP, any adjusted gross income arising from qualified
27 distribution sales shall be treated as business income of the
28 eligible corporation.
29 STEP THREE: Determine the tax due under this chapter on the
30 amount computed in STEP TWO, reduced by any nonrefundable
31 credits under IC 6-3-3 or IC 6-3.1, but not less than zero (0). For
32 purposes of this article, any application of a credit under this
33 STEP shall reduce the amount available for carryforward in the
34 same manner as otherwise provided under IC 6-3-3 or IC 6-3.1.
35 STEP FOUR:
36 (A) If the eligible corporation's qualified distribution sales are
37 not in excess of two billion dollars ($2,000,000,000),
38 determine one-half of one percent (0.5%) of the qualified
39 distribution sales.
40 (B) If the eligible corporation's qualified distribution sales are
41 in excess of two billion dollars ($2,000,000,000) but not in
42 excess of three billion dollars ($3,000,000,000), determine
ES 451—LS 6727/DI 120 9
1 three-eighths of one percent (0.375%) of the qualified
2 distribution sales in excess of two billion dollars
3 ($2,000,000,000) plus ten million dollars ($10,000,000).
4 (C) If the eligible corporation's qualified distribution sales are
5 in excess of three billion dollars ($3,000,000,000) but not in
6 excess of four billion dollars ($4,000,000,000), determine
7 one-fourth of one percent (0.25%) of the qualified distribution
8 sales in excess of three billion dollars ($3,000,000,000) plus
9 thirteen million seven hundred fifty thousand dollars
10 ($13,750,000).
11 (D) If the eligible corporation's qualified distribution sales are
12 in excess of four billion dollars ($4,000,000,000), determine
13 one-eighth of one percent (0.125%) of the qualified
14 distribution sales in excess of four billion dollars
15 ($4,000,000,000) plus sixteen million two hundred fifty
16 thousand dollars ($16,250,000).
17 STEP FIVE: Add the amounts determined under STEP THREE
18 and STEP FOUR.
19 (c) Notwithstanding any other provision of this section, for an
20 eligible corporation that makes an election:
21 (1) if the tax for a taxable year covered by the election as
22 computed under subsection (b) is less than twenty-six million
23 dollars ($26,000,000), the tax shall be twenty-six million dollars
24 ($26,000,000); and
25 (2) if the tax for the taxable year covered by an election as
26 computed under subsection (b) is greater than the amount
27 specified in clauses (A) through (C), the amount of tax shall be
28 the following amounts:
29 (A) For a taxable year ending after December 31, 2018, and
30 before January 1, 2025, forty million dollars ($40,000,000).
31 (B) For a taxable year ending after December 31, 2024, and
32 before January 1, 2026, forty-two million dollars
33 ($42,000,000).
34 (C) For each taxable year ending after December 31, 2025,
35 forty-two million dollars ($42,000,000) plus one million
36 dollars ($1,000,000) for each taxable year ending after
37 December 31, 2025.
38 For purposes of this subsection, the tax for a taxable year under this
39 section shall be determined after application of any credit allowable
40 under IC 6-3-3 and IC 6-3.1.
41 (d) If an eligible corporation makes an election under this section,
42 the following apply:
ES 451—LS 6727/DI 120 10
1 (1) The eligible corporation shall be subject to the election for the
2 taxable year of the election and each taxable year thereafter until
3 the first taxable year ending ten (10) years after the first year in
4 which an election is made under this section, even if the
5 corporation would not be an eligible corporation for a taxable year
6 after the taxable year in which the election is made, and shall be
7 binding on any successor corporation or group of corporations to
8 the eligible corporation.
9 (2) After the period of the initial election under subdivision (1),
10 the department may permit a taxpayer to make an election under
11 this section for each subsequent taxable year after the election
12 expires under subdivision (1). However:
13 (A) an election under this subdivision is only permitted for one
14 (1) taxable year; and
15 (B) if an eligible corporation does make an election for a
16 taxable year, the eligible corporation may only make a new
17 election if the new election is subject to the terms of
18 subdivision (1).
19 (e) If two (2) or more eligible corporations are part of a consolidated
20 return or combined return, the computation under STEP FOUR of
21 subsection (b) shall be determined separately for each corporation.
22 (f) For purposes of computing net operating losses for the taxable
23 year under section 2.6 of this chapter and the deduction allowable
24 against adjusted gross income under section 2.6 of this chapter, the loss
25 for the taxable year or deduction allowable shall be computed pursuant
26 to STEP TWO of subsection (b).
27 (g) An election under this section shall be in the form and manner
28 prescribed by the department. The election must be completed and filed
29 with the department on or before the date of filing of the original return
30 for a taxable year to be effective beginning with that taxable year. In
31 addition, if an eligible corporation files a consolidated return or
32 combined return for the first taxable year of the election, or for any year
33 subsequent to the first taxable year of the election, the eligible
34 corporation and the department shall enter into an agreement regarding
35 issues specific to consolidated or combined returns. In the absence of
36 such an agreement, any such issues shall be treated in a manner
37 prescribed by the department and published in the Indiana Register. If
38 the original return for a taxable year is filed after the due date for the
39 original return, including any extensions, an election will not be
40 allowed for that taxable year or any subsequent year to which the
41 election otherwise would apply. However, the eligible corporation may
42 file an election for subsequent taxable years, provided the eligible
ES 451—LS 6727/DI 120 11
1 corporation otherwise meets the requirements of this section.
2 SECTION 3. IC 6-3-4.5-1, AS AMENDED BY P.L.9-2024,
3 SECTION 186, IS AMENDED TO READ AS FOLLOWS
4 [EFFECTIVE JULY 1, 2025]: Sec. 1. The following definitions apply
5 throughout this chapter:
6 (1) "Adjustment year" means the partnership taxable year
7 described in Section 6225(d)(2) of the Internal Revenue Code.
8 (2) "Administrative adjustment request" means an administrative
9 adjustment request filed by a partnership under Section 6227 of
10 the Internal Revenue Code.
11 (3) "Affected year" means any taxable year for a taxpayer that is
12 affected by an adjustment under this chapter, regardless of
13 whether the partnership has received an adjustment for that
14 taxable year.
15 (4) "Audited partnership" means a partnership subject to a
16 partnership level audit resulting in a federal adjustment.
17 (5) "Corporate partner" means a partner that is subject to the state
18 adjusted gross income tax under IC 6-3-2-1(b) IC 6-3-2-1(c) or
19 the financial institutions tax under IC 6-5.5-2-1. In the case of a
20 partner that is a corporation described in IC 6-3-2-2.8(2) that also
21 is subject to tax under IC 6-3-2-1(b), IC 6-3-2-1(c), the
22 corporation is a corporate partner only to the extent that its
23 income is subject to tax under IC 6-3-2-1(b). IC 6-3-2-1(c).
24 (6) "Direct partner" means a partner that holds an interest directly
25 in a partnership or pass through entity.
26 (7) "Exempt partner" means a partner that is exempt from the
27 adjusted gross income tax under IC 6-3-2-2.8(1) or the financial
28 institutions tax under IC 6-5.5-2-7(4), except to the extent of
29 unrelated business taxable income.
30 (8) "Federal adjustment" means a change to an item or amount
31 determined under the Internal Revenue Code or a change to any
32 other tax attribute that is used by a taxpayer to compute state
33 adjusted gross income taxes or financial institutions tax owed,
34 whether that change results from action by the Internal Revenue
35 Service, including a partnership level audit, or the filing of an
36 amended federal return, a federal refund claim, or an
37 administrative adjustment request by the taxpayer. A federal
38 adjustment is positive to the extent that it increases state adjusted
39 gross income as determined under IC 6-3 or IC 6-5.5 and is
40 negative to the extent that it decreases state adjusted gross income
41 as determined under IC 6-3 or IC 6-5.5.
42 (9) "Federal adjustment reports" includes methods or forms
ES 451—LS 6727/DI 120 12
1 required by the department for use by a taxpayer to report final
2 federal adjustments for purposes of this chapter, including an
3 amended Indiana tax return, information return, or uniform
4 multistate report.
5 (10) "Federal partnership representative" means a person the
6 partnership designates for the taxable year as the partnership's
7 representative, or the person the Internal Revenue Service has
8 appointed to act as the federal partnership representative,
9 pursuant to Section 6223(a) of the Internal Revenue Code.
10 (11) "Final determination date" means the following:
11 (A) Except as provided in clause (B) or (C), if the federal
12 adjustment arises from an Internal Revenue Service audit or
13 other action by the Internal Revenue Service, the final
14 determination date is the date on which the federal adjustment
15 is a final determination under IC 6-3-4-6(d).
16 (B) For federal adjustments arising from an Internal Revenue
17 Service audit or other action by the Internal Revenue Service,
18 if the taxpayer filed as a member of a consolidated tax return
19 filed under IC 6-3-4-14, a combined return filed under
20 IC 6-3-2-2 or IC 6-5.5-5-1, or a return combined by the
21 department under IC 6-3-2-2(p), the final determination date
22 means the first date on which no related federal adjustments
23 arising from that audit remain to be finally determined, as
24 described in clause (A), for the entire group.
25 (C) If the federal adjustment results from filing an amended
26 federal return, a federal refund claim, or an administrative
27 adjustment request, the final determination date means the day
28 on which the amended return, refund claim, administrative
29 adjustment request, or other similar report was filed.
30 (12) "Final federal adjustment" means a federal adjustment after
31 the final determination date for that federal adjustment has
32 passed.
33 (13) "Indirect partner" means a partner in a partnership or pass
34 through entity that itself holds an interest directly, or through
35 another indirect partner, in a partnership or pass through entity.
36 (14) "Internal Revenue Code" has the meaning set forth in
37 IC 6-3-1-11.
38 (15) "Nonresident partner" has the meaning provided in
39 IC 6-3-4-12(n).
40 (16) "Partner" means a person or entity that holds an interest
41 directly or indirectly in a partnership or other pass through entity.
42 (17) "Partner level adjustments report" means a report provided
ES 451—LS 6727/DI 120 13
1 by a partnership to its partners as a result of a department action
2 with regard to the partnership. A partner level adjustments report
3 does not include an amended statement provided by a partnership
4 or other entity as a result of an adjustment reported by the
5 partnership.
6 (18) "Partnership" has the meaning set forth in IC 6-3-1-19.
7 (19) "Partnership level audit" means an examination by the
8 Internal Revenue Service at the partnership level under Sections
9 6221 through 6241 of the Internal Revenue Code, as enacted by
10 the Bipartisan Budget Act of 2015, Public Law 114-74, which
11 results in federal adjustments.
12 (20) "Partnership return" means a return required to be filed by a
13 partnership pursuant to IC 6-3-4-10. In the case of a partnership
14 that is required to withhold tax or file a composite return pursuant
15 to IC 6-3-4-12 or IC 6-5.5-2-8, the term also includes the returns
16 or schedules required for tax withholding or composite filing. In
17 the case of a partnership that is an electing entity under
18 IC 6-3-2.1, the term also includes the returns or schedules
19 required for the pass through entity tax under IC 6-3-2.1.
20 (21) "Pass through entity" means an entity defined in IC 6-3-1-35,
21 other than a partnership, that:
22 (A) is not subject to tax except as provided in IC 6-3-2-2.8(2),
23 in the case of a corporation described in IC 6-3-2-2.8(2); or
24 (B) is not subject to tax except on its undistributed taxable
25 income, in the case of an estate or a trust.
26 (22) "Reallocation adjustment" means a federal adjustment
27 resulting from a partnership level audit or an administrative
28 adjustment request that changes the shares of one (1) or more
29 items of partnership income, gain, loss, expense, or credit
30 allocated to direct partners. A positive reallocation adjustment
31 means the portion of a reallocation adjustment that would
32 increase federal adjusted gross income or federal taxable income
33 for one (1) or more direct partners, and a negative reallocation
34 adjustment means the portion of a reallocation adjustment that
35 would decrease federal adjusted gross income or federal taxable
36 income for one (1) or more direct partners, according to Section
37 6225 of the Internal Revenue Code and the regulations under that
38 section.
39 (23) "Resident partner" means a partner that is not a nonresident
40 partner.
41 (24) "Review year" means the taxable year of a partnership that
42 is subject to a partnership level audit, an administrative
ES 451—LS 6727/DI 120 14
1 adjustment request, or an amended federal return that results in
2 federal adjustments, regardless of whether any federal tax
3 determined to be due is the responsibility of the partnership or
4 partners.
5 (25) "Statement" means a form or schedule prescribed by the
6 department through which a partnership or pass through entity
7 reports tax attributes to its owners or beneficiaries.
8 (26) "Tax attribute" means any item of income, deduction, credit,
9 receipts for apportionment, or other amount or status that
10 determines a partner's liability under IC 6-3, IC 6-3.6, or IC 6-5.5.
11 (27) "Taxable year" means, in the case of a partnership, the year
12 or partial year for which a partnership files a return for state and
13 federal purposes and, in the case of a partner, the taxable year in
14 which the partner reports tax attributes from the partnership.
15 (28) "Taxpayer" has the meaning set forth in IC 6-3-1-15 (in the
16 case of the adjusted gross income tax) and IC 6-5.5-1-17 (in the
17 case of the financial institutions tax) and, unless the context
18 clearly indicates otherwise, includes a partnership subject to a
19 partnership level audit or a partnership that has made an
20 administrative adjustment request, as well as a tiered partner of
21 that partnership.
22 (29) "Tiered partner" means any partner that is a partnership or
23 pass through entity.
24 (30) "Unrelated business taxable income" has the meaning set
25 forth in Section 512 of the Internal Revenue Code.
26 SECTION 4. IC 6-3-4.5-9, AS AMENDED BY P.L.9-2024,
27 SECTION 188, IS AMENDED TO READ AS FOLLOWS
28 [EFFECTIVE JULY 1, 2025]: Sec. 9. (a) Partnerships and partners
29 shall report final federal adjustments arising from a partnership level
30 audit or an administrative adjustment request and make payments as
31 required under this section.
32 (b) Final federal adjustments subject to the requirements of this
33 section, except those subject to a properly made election under
34 subsection (c), shall be reported as follows:
35 (1) Not later than the applicable deadline, the partnership shall:
36 (A) file an amended partnership return for the review year and
37 any other taxable year affected by the final federal adjustments
38 with the department as provided in section 8 of this chapter
39 and provide any other information required by the department;
40 (B) notify each of its direct partners of their distributive share
41 of the final federal adjustments as provided in section 8 of this
42 chapter for all affected taxable years for which the partnership
ES 451—LS 6727/DI 120 15
1 filed an amended partnership return by an amended statement
2 or a report in the form and manner prescribed by the
3 department;
4 (C) file an amended composite return for direct partners and
5 an amended withholding return for direct partners for the
6 review year and any affected taxable years as otherwise
7 required by IC 6-3-4-12 or IC 6-5.5-2-8 and pay any tax due
8 for the taxable years; and
9 (D) if the partnership is an electing entity, file an amended
10 return under IC 6-3-2.1 for the review year and any affected
11 taxable year and pay any tax due for the taxable year.
12 (2) Each direct partner that is subject to tax under IC 6-3,
13 IC 6-3.6, or IC 6-5.5 shall, on or before the applicable deadline:
14 (A) file an amended return as provided in section 8 of this
15 chapter reporting their distributive share of the adjustments
16 reported to them under subdivision (1)(B) for the taxable year
17 in which affected taxable year attributes would be reported by
18 the direct partner as provided in section 8 of this chapter; and
19 (B) pay any additional amount of tax due as if final federal
20 partnership adjustments had been properly reported, less any
21 credit for related amounts paid or withheld and remitted on
22 behalf of the direct partner.
23 (3) Each tiered partner shall treat any final federal partnership
24 adjustments under this section in a manner consistent with the
25 treatment of tiered partners under section 8 of this chapter.
26 (c) Except as provided in subsection (d), an audited partnership
27 making an election under this subsection shall:
28 (1) not later than the applicable deadline, file an amended
29 partnership return for the review year and for any other affected
30 taxable year elected by the audited partnership, including
31 information as required by the department, and notify the
32 department that it is making the election under this subsection;
33 and
34 (2) not later than ninety (90) days after the applicable deadline,
35 pay an amount, determined as follows, in lieu of taxes owed by its
36 direct or indirect partners:
37 (A) Exclude from final federal adjustments the distributive
38 share of these adjustments reported to a direct exempt partner
39 that is not unrelated business income.
40 (B) For the total distributive shares of the remaining final
41 federal adjustments reported to direct corporate partners and
42 to direct exempt partners, apportion and allocate such
ES 451—LS 6727/DI 120 16
1 adjustments as provided under IC 6-3-2-2 or IC 6-3-2-2.2 (in
2 the case of the adjusted gross income tax) or IC 6-5.5-4 (in the
3 case of the financial institutions tax), and multiply the
4 resulting amount by the tax rate for the taxable year under
5 IC 6-3-2-1(b), IC 6-3-2-1(c), IC 6-3-2-1.5, or IC 6-5.5-2-1, as
6 applicable.
7 (C) For the total distributive shares of the remaining final
8 federal adjustments reported to nonresident direct partners
9 other than tiered partners or corporate partners, determine the
10 amount of such adjustments which is Indiana source income
11 under IC 6-3-2-2 or IC 6-3-2-2.2, and multiply the resulting
12 amount by the tax rate under IC 6-3-2-1(a), IC 6-3-2-1(b), and
13 if applicable IC 6-3.6. If a partnership is unable to determine
14 whether a nonresident is subject to tax under IC 6-3.6, or to
15 determine in what county the nonresident is subject to tax
16 under IC 6-3.6, tax shall also be imposed at the highest rate for
17 which a county imposes a tax under IC 6-3.6 for the taxable
18 year.
19 (D) For the total distributive shares of the remaining final
20 federal adjustments reported to tiered partners:
21 (i) determine the amount of any adjustment that is of a type
22 that it would be subject to sourcing in Indiana under
23 IC 6-3-2-2, IC 6-3-2-2.2, or IC 6-5.5-4, as applicable, and
24 determine the portion of this amount that would be sourced
25 to Indiana;
26 (ii) determine the amount of any adjustment that is of a type
27 that it would not be subject to sourcing to Indiana by a
28 nonresident partner under IC 6-3-2-2, IC 6-3-2-2.2, or
29 IC 6-5.5-4, as applicable;
30 (iii) determine the portion of the amount determined under
31 item (ii) that can be established, as prescribed by the
32 department by rule under IC 4-22-2, to be properly allocable
33 to nonresident indirect partners or other partners not subject
34 to tax on the adjustments; and
35 (iv) multiply the sum of the amounts determined in items (i)
36 and (ii) reduced by the amount determined in item (iii) by
37 the highest combined rate for the taxable year under
38 IC 6-3-2-1(a) IC 6-3-2-1(b) and IC 6-3.6 for any county, the
39 rate under IC 6-3-2-1(b), IC 6-3-2-1(c), or the rate under
40 6-5.5-2-1 for the taxable year, whichever is highest.
41 (E) For the total distributive shares of the remaining final
42 federal adjustments reported to resident individual, estate, or
ES 451—LS 6727/DI 120 17
1 trust direct partners, multiply that amount by the tax rate under
2 IC 6-3-2-1(a) IC 6-3-2-1(b) and IC 6-3.6. If a partnership does
3 not reasonably ascertain the county of residence for an
4 individual direct partner, the rate under IC 6-3.6 for that
5 partner shall be treated as the highest rate imposed in any
6 county under IC 6-3.6 for the taxable year.
7 (F) Add an amount equal to any credit reduction under
8 IC 6-3-3, IC 6-3.1, and IC 6-5.5 attributable as a result of final
9 federal adjustments.
10 (G) Add the amounts determined in clauses (B), (C), (D)(iv),
11 (E), and (F). For purposes of determining interest and
12 penalties, the due date of payment shall be the due date of the
13 partnership's return under IC 6-3-4-10 for the taxable year,
14 determined without regard to any extensions.
15 (d) Final federal adjustments subject to an election under subsection
16 (c) shall not include:
17 (1) the distributive share of final federal adjustments that would
18 constitute income derived from a partnership to any direct or
19 indirect partner that is a corporation taxable under IC 6-3-2-1(b),
20 IC 6-3-2-1(c), IC 6-3-2-1.5, or IC 6-5.5-2-1 and is considered
21 unitary to the partnership; or
22 (2) any other circumstances that the department determines would
23 result in avoidance or evasion of any tax otherwise due from one
24 (1) or more partners under IC 6-3 or IC 6-5.5.
25 (e) No election under subsection (c) may be made for federal audit
26 adjustments received by the department after April 30, 2023.
27 (f) Notwithstanding IC 6-3-4-11, an audited partnership not
28 otherwise subject to any reporting or payment obligations to Indiana
29 that makes an election under subsection (c) consents to be subject to
30 Indiana law related to reporting, assessment, payment, and collection
31 of Indiana tax calculated under the election.
32 SECTION 5. IC 6-3-4.5-18, AS AMENDED BY P.L.201-2023,
33 SECTION 99, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
34 JULY 1, 2025]: Sec. 18. (a) If a partnership or tiered partner is required
35 to issue a report, issue an amended statement, or issue other
36 information to a partner, owner, or beneficiary under this chapter, and
37 does not issue such report, statement, or information within the period
38 such issuance is required under this chapter, the partnership or tiered
39 partner shall be liable for any tax that otherwise may be due from the
40 partner, owner, or beneficiary, notwithstanding any other provision in
41 IC 6-3 or IC 6-5.5. The tax rate under this section shall be computed at
42 the highest rate for the taxable year under:
ES 451—LS 6727/DI 120 18
1 (1) IC 6-3-2-1(a), IC 6-3-2-1(b), plus the highest rate imposed in
2 any county under IC 6-3.6;
3 (2) IC 6-3-2-1(b); IC 6-3-2-1(c); or
4 (3) IC 6-5.5-2-1;
5 unless the partnership or tiered partner can establish that a lower rate
6 should apply, the partnership or tiered partner has made an election to
7 be subject to tax under sections 6, 8, or 9 of this chapter, or to the
8 extent the partnership, tiered partner, or the department can determine
9 that the tax was otherwise properly reported and remitted. Such tax
10 shall be considered to be due on the due date of the partnership's or
11 tiered partner's return for the taxable year, determined without regard
12 to extensions.
13 (b) If a partnership or tiered partner issues the report, amended
14 statement, or other information:
15 (1) to an address that the partnership or tiered partner knows or
16 reasonably should know is incorrect; or
17 (2) if the report, amended statement, or other information not
18 described in subdivision (1) is returned and the partnership or
19 tiered partner:
20 (A) fails to take reasonable steps to determine a proper address
21 for reissuance within thirty (30) days after the report, amended
22 statement, or other information is returned; or
23 (B) takes such steps and fails to reissue the report, amended
24 statement, or other information to a proper address within
25 thirty (30) days after the report, amended statement, or other
26 information is returned;
27 such report, amended statement, or other information shall be
28 considered to have not been issued for purposes of this section.
29 (c) The department may issue a proposed assessment under this
30 section not later than three (3) years after the department receives a
31 return or amended return from the partnership or tiered partner for
32 which the partnership or tiered partner fails to issue reports, amended
33 statements, or other information, or from the date a partnership is
34 required to issue partner level adjustments reports to its partners.
35 (d) If:
36 (1) a direct or indirect partner files and remits the tax otherwise
37 due under this section, the assessment to the partnership or tiered
38 partner under this section shall be reduced by the portion of the
39 tax attributable to the direct or indirect partner; and
40 (2) a partnership or tiered partner files and remits the tax under
41 this section, such tax shall be treated as payment of tax to the
42 direct or indirect partners. However, in no event shall the direct
ES 451—LS 6727/DI 120 19
1 or indirect partners be permitted a refund of tax paid by a
2 partnership or tiered partner under this section unless otherwise
3 permitted under this chapter or IC 6-8.1-9-1.
4 (e) Nothing in this section shall be construed to relieve a partnership
5 or tiered partner from any duty to issue a report, amended statement, or
6 other information otherwise required under this chapter or under any
7 other provision of IC 6-3 or IC 6-5.5. If a partnership or tiered partner
8 issues a report, amended statement, or other information provided
9 under this chapter after the date otherwise required for issuance, the
10 department may grant relief to any tiered partner, direct partner, or
11 indirect partner affected by the late issuance, including extension of
12 applicable deadlines.
ES 451—LS 6727/DI 120 20
COMMITTEE REPORT
Mr. President: The Senate Committee on Tax and Fiscal Policy, to
which was referred Senate Bill No. 451, has had the same under
consideration and begs leave to report the same back to the Senate with
the recommendation that said bill be AMENDED as follows:
Page 2, line 12, delete "2029," and insert "2030,".
Page 2, line 13, delete "2028," and insert "2029,".
Page 2, line 22, delete "following".
Page 2, line 22, delete ":" and insert "of".
Page 2, line 23, delete "(A) Five" and insert "five".
Page 2, run in lines 22 through 23.
Page 2, line 24, after "of the" insert "even-numbered".
Page 2, delete lines 26 through 28.
Page 3, line 36, delete "report to the" and insert "to the legislative
council, and report to the state".
Page 3, line 41, delete "each applicable year" and insert "the
following even-numbered year".
Page 3, line 42, delete "even-numbered" and insert
"odd-numbered".
Page 4, line 2, after "each" insert "even-numbered".
and when so amended that said bill do pass.
(Reference is to SB 451 as introduced.)
HOLDMAN, Chairperson
Committee Vote: Yeas 13, Nays 0.
_____
COMMITTEE REPORT
Mr. Speaker: Your Committee on Ways and Means, to which was
referred Senate Bill 451, has had the same under consideration and
begs leave to report the same back to the House with the
recommendation that said bill be amended as follows:
Page 2, line 13, delete "if" and insert "and before January 1, 2032,
if, as determined by the budget agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2025;
(ii) June 30, 2026;
ES 451—LS 6727/DI 120 21
(iii) June 30, 2027; and
(iv) June 30, 2028;
exceed by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2029,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2028;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(10) For taxable years beginning after December 31, 2031, and
before January 1, 2034, if, as determined by the budget
agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2027;
(ii) June 30, 2028;
(iii) June 30, 2029; and
(iv) June 30, 2030;
exceed by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2031,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2030;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(11) For taxable years beginning after December 31, 2033, and
before January 1, 2036, if, as determined by the budget
agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2029;
(ii) June 30, 2030;
ES 451—LS 6727/DI 120 22
(iii) June 30, 2031; and
(iv) June 30, 2032;
exceed by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2033,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2032;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(12) For taxable years beginning after December 31, 2035, and
before January 1, 2038, if, as determined by the budget
agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2031;
(ii) June 30, 2032;
(iii) June 30, 2033; and
(iv) June 30, 2034;
exceed by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2035,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2034;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(13) For taxable years beginning after December 31, 2037, and
before January 1, 2040, if, as determined by the budget
agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2033;
(ii) June 30, 2034;
ES 451—LS 6727/DI 120 23
(iii) June 30, 2035; and
(iv) June 30, 2036;
exceed by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2037,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2036;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(14) For taxable years beginning after December 31, 2039, and
before January 1, 2042, if, as determined by the budget
agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2035;
(ii) June 30, 2036;
(iii) June 30, 2037; and
(iv) June 30, 2038;
exceeds by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2039,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2038;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(15) For taxable years beginning after December 31, 2041, and
before January 1, 2044, if, as determined by the budget
agency under subsection (e), the:
(A) state general fund revenue collections in each of the
state fiscal years ending:
(i) June 30, 2037;
(ii) June 30, 2038;
ES 451—LS 6727/DI 120 24
(iii) June 30, 2039; and
(iv) June 30, 2040;
exceeds by at least three and one-half percent (3.5%) the
state general fund revenue collections for the respective
immediately preceding state fiscal year; and
(B) amount of forecasted state general fund revenue
collections for the state fiscal year ending June 30, 2041,
are estimated to exceed by at least three and one-half
percent (3.5%) the state general fund revenue collections
in the state fiscal year ending June 30, 2040;
the tax rate shall be decreased by the percentage point of five
one-hundredths of one percent (0.05%) beginning January 1
of the even-numbered year immediately succeeding the year
of the budget agency determination under subsection (e).
(16) For taxable years beginning after December 31, 2043, the
tax rate in effect in taxable years beginning after December
31, 2042, remains in effect.".
Page 2, delete lines 14 through 25.
Page 3, line 23, delete "thereafter." and insert "thereafter until
2043.".
Page 3, line 25, delete "determine the percentage of revenue growth
in the actual" and insert "compare the percentage of revenue growth
in state general fund revenue collections between state fiscal years
as described in subsection (b)(9) through (b)(15), including the
comparison of the percentage of revenue growth between the
amount of forecasted state general fund revenue collections for
particular state fiscal years and the actual state general fund
revenue collections for particular state fiscal years, to determine
whether the conditions described in subsection (b)(9) through
(b)(15) are satisfied.".
Page 3, delete lines 26 through 28.
Page 3, line 29, delete "for a taxable year under subsection (b)(9).".
Page 3, run in lines 25 through 29.
Page 3, line 32, after "even-numbered" insert "calendar".
Page 3, line 39, after "odd-numbered" insert "calendar".
Page 3, line 41, after "even-numbered" insert "calendar".
Page 3, line 42, delete "(b)(9)(A) and (b)(9)(B)" and insert "(b)".
and when so amended that said bill do pass.
ES 451—LS 6727/DI 120 25
(Reference is to SB 451 as printed January 22, 2025.)
THOMPSON
Committee Vote: yeas 16, nays 7.
ES 451—LS 6727/DI 120