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Senate committee advances bill to raise business personal property exemption and phase out 30% floor; vote 8‑2
Summary
Senate Bill 443, advanced by the committee on an 8‑2 vote, would raise the business personal property de minimis exemption to $160,000 and phase out the state’s 30 percent valuation floor over three years.
Senator Freeman presented Senate Bill 443, which increases the acquisition‑cost exemption for business personal property from $80,000 to $160,000 and phases the 30 percent valuation floor down to zero over three years. The bill drew extensive testimony from industry groups, local governments, school officials and public‑sector associations.
Supporters including the Indiana Manufacturers Association, National Federation of Independent Business (NFIB), Indiana…
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