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Ways and Means advances tax-conformity bill but decouples costly corporate bonus depreciation
Summary
The committee fast-tracked Senate Bill 212, adopting most federal conformity provisions but removing a corporate bonus-depreciation provision estimated to cost Indiana $244 million over three years; proponents said the move balances competitiveness with fiscal responsibility while critics urged restoring social-service cuts funded from reserves.
Senate Bill 212 moved out of the House Ways and Means Committee after a detailed presentation and then a recorded vote of 20–3. Sponsor Senator Holman said the bill packages several federal tax changes — including an enhanced adoption credit, recognition of tribal identification of special-needs children, a permanent telehealth deduction safe harbor and the termination of certain energy-property cost recovery — but that the Senate chose to decouple one large corporate provision.
"The section has to do with corporate returns —…
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