Provides a sales tax exemption for the sale or furnishing of the following services or commodities by a power subsidiary or a person engaged as a public utility to a person for commercial or domestic consumption: (1) Electrical energy. (2) Natural or artificial gas. (3) Water. (4) Steam. (5) Steam heating service. Makes conforming amendments.
Permits the use of cannabis by: (1) a person at least 21 years of age; and (2) a person with a serious medical condition as determined by the person's physician. Establishes the adult use cannabis excise tax, and requires a retailer to transfer the tax to the department of state revenue for deposit in the state general fund. Exempts veterans from payment of the sales tax on medical or adult use cannabis. Establishes a cannabis program (program) to permit the cultivation, processing, testing, transportation, and sale of cannabis by holders of a valid permit. Establishes the Indiana cannabis commission (ICC) as a state agency to oversee, implement, and enforce the program, and establishes the ICC advisory committee to review the effectiveness of the program. Requires that permit holders take steps to prevent diversion of cannabis to unauthorized persons. Requires that cannabis and cannabis products be properly labeled, placed in child resistant packaging, and tested by an independent testing laboratory before being made available for purchase. Prohibits packaging cannabis in a manner that is appealing to children. Authorizes research on cannabis in accordance with rules set forth by the ICC. Establishes a procedure for the expungement of a cannabis related conviction if the act constituting the conviction becomes legal. Makes conforming amendments.
Allows a county to adopt an ordinance to impose a county option gasoline tax. Specifies procedures for imposition and collection of the county option gasoline tax. Provides that a county may not concurrently impose a county option gasoline tax and a: (1) county wheel tax; and (2) county vehicle excise tax. Specifies requirements for a municipality within a county that wishes to receive a distribution of revenue from the county option gasoline tax.
Authorizes the fiscal body of a county, city, or town (municipality) to reduce its homestead property tax cap. Requires the reduced property tax cap to apply only in determining the net property tax revenue of the municipality that adopted it and not to any other taxing unit within the taxing district. Authorizes a municipality that has adopted a reduced homestead property tax cap to adopt any of the following local option taxes, either singly or in combination, the revenue from which must be used as property tax replacement revenue due to the reduced homestead property tax cap: (1) Local option sales tax. (2) Supplemental local income tax. (3) Supplemental innkeeper's tax. (4) Supplemental food and beverage tax. Makes conforming changes and removes obsolete provisions. Makes an appropriation.
Phases down in equal reductions over four years the state gross retail tax rate imposed on the sale of the following utility services to a person for domestic consumption: (1) Electrical energy. (2) Natural or artificial gas. (3) Water. (4) Steam. (5) Steam heating service.
Abolishes the assessment of tangible property after December 31, 2026, and the imposition of property taxes after December 31, 2027. Provides that a political subdivision may not issue any new bonds, notes, or warrants, or enter into any leases or obligations to be paid from property tax revenue, or that include a pledge to levy property taxes if other funds are insufficient. Provides that: (1) no property tax increment financing district or allocation area may be established, amended, or renewed; and (2) no bonds, leases, or other obligations may be issued, entered into, or extended for a property tax increment financing district or allocation area. Provides that a school corporation may impose an annual fee to replace the loss of revenue previously collected by the school corporation from the imposition of an operating referendum tax levy or school safety referendum tax levy. Prescribes procedures for the fixing and reviewing of a political subdivision's budget. Prohibits the imposition of new levies for controlled projects, operating referenda, and school safety referenda. Abolishes the offices of county assessor and township assessor. Extends the sales and use tax application to transactions involving services, except for health care or mental health services (including insurance premiums for policies covering these services) and services provided for charitable tax exempt purposes. Establishes the local revenue sharing fund (fund) into which revenue from the portion of revenue from the extended sales and use tax is to be deposited. Requires the state comptroller to distribute to taxing units the portion of all the state sales and use tax revenue attributable to services from the fund. Continually appropriates money from the fund. Requires the legislative services agency to prepare legislation for introduction in the 2027 regular session of the general assembly to make appropriate required changes in statutes. Makes corresponding changes.
Provides that a power subsidiary or a person engaged as a public utility is not a retail merchant making a retail transaction when the subsidiary or person furnishes or sells electrical energy, natural or artificial gas, water, steam, or steam heating service to a person for domestic consumption.
Provides that an individual who resides in a county with a local income tax and has a principal place of employment or business in a different county shall also pay a local income tax in the county where the individual maintains the principal place of employment. Provides that the local income tax rate in effect for a local taxpayer in the county where the local taxpayer maintains the local taxpayer's principal place of business or employment is one fourth of the sum of the local income tax rates imposed on the adjusted gross income of local taxpayers who reside in the county where the local taxpayer maintains the local taxpayer's principal place of business or employment. Provides that a local taxpayer is entitled to a credit against the tax imposed by a county in the county where the local taxpayer resides equal to the amount of the tax paid in the county where the local taxpayer has a principal place of business or employment.
Creates uniform food and beverage tax authorization provisions for cities and counties that are not required or authorized to impose a food and beverage tax under any other food and beverage tax enabling statute. Specifies the food and beverage tax adoption procedure, maximum food and beverage tax rate, uses of revenue from a food and beverage tax, and the duration of the food and beverage tax.
Freezes an individual's property tax liability attributable to the individual's homestead based on the date on which the individual acquired an ownership interest in the homestead.
