By the Associated Press in the Fort Wayne News-Sentinel:
A look at major legislation in the Indiana General Assembly this year:
STATE SPENDING
A new two-year, $30 billion budget plan increases school spending by 2 percent the first year and 1 percent the second year for a total of about $330 million. State and local roads funding increases by $400 million, with another $400 million for major highway expansions over the biennium.
TAX CUTS
Budget plan cuts the state's personal income tax rate by 5 percent in two steps — from the current 3.4 percent tax rate to 3.3 percent in 2015, then to 3.23 percent in 2017. Gov. Mike Pence had sought a 10 percent cut. Plan also repeals the state inheritance tax retroactive to Jan. 1 of this year; legislators last year had approved a 10-year phase out of that tax.
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ONLINE SALES TAX
The Senate turned aside a House-approved plan to require Amazon.com and other online-only retailers to start collecting Indiana's 7 percent sales tax this summer. Amazon is to start collecting that tax in January, but other online retailers don't face any requirement.
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