Bill > SB0212

This bill updates Indiana's state income tax laws to align with recent changes in federal tax law, specifically by amending the definition of the "Internal Revenue Code" to include provisions from a federal act known as the "One Big Beautiful Bill Act of 2025" (Public Law 119-21). Essentially, this means that for certain tax purposes, Indiana will now recognize federal tax rules as they exist on July 4, 2025, rather than the previous cutoff date of January 1, 2023, for specific sections related to tax credits and depreciation. The bill also declares an emergency, meaning it will take effect immediately upon passage.