Tuesday, February 25, 2014

AP Reports House Looks to Restore Business Tax Cut

From the Associated Press in the Kokomo Tribune:

A panel of Indiana House lawmakers is considering a series of amendments that would overhaul the Senate-approved plan for cutting the state's property tax on business equipment.

The House proposals would also protect tax credits that Senate Republicans proposed cutting to pay for the business equipment plan. If approved, the changes would effectively alter the Senate Republican plan to reflect the earlier House-passed measure.

Senate Appropriations Chairman Luke Kenley has suggested the issue might need to be reviewed after this year's legislative session by a study committee before lawmakers take any action.

Republican Gov. Mike Pence originally sought the elimination of the equipment tax, but trimmed back his request in the face of strong opposition from local government leaders, including many Republican mayors.