STATEHOUSE (April 2, 2019) — A bill authored by State Sen. Aaron Freeman (R-Indianapolis) that would help Hoosier small businesses today passed the House of Representatives by a vote of 79 to 15.
Senate Bill 233 would provide targeted tax relief for Hoosier businesses by doubling the personal-property tax exemption from $20,000 to $40,000 as well as removing the fees for filing an exemption. This legislation is projected to provide $4 million in tax relief to more than 28,000 small businesses throughout Indiana.
“Small businesses play an integral role in keeping our state’s economy strong, and we must help address the issues they are facing,” Freeman said. “It is very easy for businesses to reach the $20,000 threshold, so by increasing the tax relief to $40,000, the state would be helping our small businesses continue to thrive in Indiana.”
SB 233 will now return to the Senate for consideration.
For a high-resolution photo of Freeman, click here.