SB 443 Indiana Senate · 2025 Regular Session

Business personal property tax.

SB 443 increases the exemption threshold for business personal property tax from $80,000 to $100,000. This means businesses purchasing equipment costing $100,000 or less will now qualify for the tax exemption, directly affecting small and medium-sized businesses that buy equipment within this range. The key provision adjusts the cost threshold at which the tax exemption applies, expanding coverage to more equipment purchases. The bill passed the House with 39 votes in favor and 7 against on February 13, 2025.

Issues: ✓ Budget & Taxes

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Jan 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Jan 13, 2025 Last action Mar 13, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed Senate Bill (H) → Senate Bill (S) · 4 edits

MODERATE

The bill increased the business personal property tax exemption threshold from $100,000 to $160,000 and added a three-year phase-down mechanism for the minimum valuation percentage. It also introduced a tax credit to offset property tax liability differences caused by the new phase-down provisions. The committee report was removed, indicating the bill was amended to reflect these new provisions.

Scope change

The bill's scope expanded to include a tax credit mechanism and a phased valuation reduction, affecting more taxpayers with higher property values.

ELIGIBILITY

Increased the business personal property tax exemption threshold from $100,000 to $160,000.

FISCAL

Added a tax credit for taxpayers to offset property tax liability differences caused by the new phase-down provisions.

TIMELINE

Implemented a three-year phase-down period for the minimum valuation percentage from 30% to zero.

TECHNICAL

Removed the committee report and amendment motion text, indicating the bill was amended to reflect the new provisions.

Floor votes · Senate Feb 13, 2025

How they voted

39–7

Passed · 4 other

Total votes 50

Feb 13, 2025

D Democratic10

3 Yea 7 Nay

70% Nay

R Republican40

36 Yea 4

90% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Feb 13, 2025

Upper · Passed

Third reading: passed; Roll Call 127: yeas 39, nays 7

upper

Feb 11, 2025

Upper · Passed

Amendment #8 (Freeman) prevailed; voice vote

upper

Jan 28, 2025

Upper · Passed

Committee report: do pass, adopted

upper

4 primary · 3 co-sponsors