Indiana House Bill 1616 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Introduced on January 22 2019 - 25% progression, died in committee
Action: 2019-01-31 - Representatives Heine and Klinker added as coauthors
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]

Affordable housing tax benefits. Restores the property tax exemption for certain real property that is acquired for the purpose of erecting, renovating, or improving a single family residential structure that is to be given away or sold: (1) in a charitable manner; (2) by a nonprofit organization; and (3) to low income individuals who will use the land as a family residence. Expands the neighborhood assistance credit to provide the credit for contributions to certain nonprofit entities that develop affordable residential housing for sale to certain low income buyers (program II). Expands the neighborhood assistance credit to provide the credit for contributions to affordable housing organizations (program III). Provides that the aggregate limit of tax credits that may be approved under program II each state fiscal year is $1 million. Provides that the aggregate limit of neighborhood assistance tax credits that may be approved under program III each state fiscal year is $1 million. Specifies conditions for allocations of neighborhood assistance credits to affordable housing organizations under program III.

Affordable housing tax benefits. Restores the property tax exemption for certain real property that is acquired for the purpose of erecting, renovating, or improving a single family residential structure that is to be given away or sold: (1) in a charitable manner; (2) by a nonprofit organization; and (3) to low income individuals who will use the land as a family residence. Expands the neighborhood assistance credit to provide the credit for contributions to certain nonprofit entities that develop affordable residential housing for sale to certain low income buyers (program II). Expands the neighborhood assistance credit to provide the credit for contributions to affordable housing organizations (program III). Provides that the aggregate limit of tax credits that may be approved under program II each state fiscal year is $1 million. Provides that the aggregate limit of neighborhood assistance tax credits that may be approved under program III each state fiscal year is $1 million. Specifies conditions for allocations of neighborhood assistance credits to affordable housing organizations under program III.

Rep. Jim Pressel [R]

Rep. Edward Clere [R]

Rep. Dave Heine [R]

Rep. Sheila Klinker [D]

Date	Chamber	Action
2019-01-31	House	Representatives Heine and Klinker added as coauthors
2019-01-22	House	First reading: referred to Committee on Ways and Means
2019-01-22	House	Coauthored by Representative Clere
2019-01-22	House	Authored by Representative Pressel

Type	Source
Summary	https://iga.in.gov/legislative/2019/bills/house/1616/details
Text	http://iga.in.gov/static-documents/d/2/8/e/d28ec66b/HB1616.01.INTR.pdf