Tuesday, March 20, 2012

Governor Signs Bills Phasing Out Inheritance Tax and Increasing Reserves Before Automatic Tax Refund

From the Indianapolis Business Journal:

"Gov. Mitch Daniels has signed bills to phase out Indiana's inheritance tax and paying for full-day kindergarten.

The measures signed by the governor Tuesday include about $80 million to pay for the additional kindergarten costs and prohibit districts from charging special kindergarten fees. Legislators approved a separate measure this month that will decrease the inheritance tax in stages beginning next year until it is eliminated after 2021.

Daniels also approved a requirement that the state hold more money in reserves before an automatic tax refund kicks in. The measures also include more money for the victims of last summer's deadly state fair stage collapse.

The governor said Tuesday he is still unsure whether he will approve a measure allowing residents to use force when resisting police in some cases."

http://www.ibj.com/daniels-signs-inheritance-tax--kindergarten-funding-bills/PARAMS/article/33339