Rep. Eric Turner pleased “pro-jobs bill” signed into law
STATEHOUSE – “As the author of House Bill 1001, I worked this session to give local governments the option to exempt business personal property taxes. I was very pleased to be a part of this pro-jobs bill that gives local governments greater freedom and flexibility to attract employers. We worked to include this bill, especially the local option, into SEA 1, which created a very strong jobs bill.
“Every county’s tax base is structured differently and relies on the BPPT to varying degrees, which is why it is fiscally responsible to give this additional economic development tool to the county leaders that know the intricate details of their communities and what can draw additional jobs.
“Parents and grandparents all agree, they hope their children and grandchildren have the opportunity to find a good job close to home.
“The business personal property tax serves as a disincentive for companies wanting to invest in new equipment, especially in the manufacturing sector. All of our surrounding states either do not tax BPPT or do so at a lower rate. This is about being more competitive now and in the future. My goal is to position our state to be one of the most desirable to start a business, grow a business or relocate a business – it starts with enacting policies that attract entrepreneurs and investors to Indiana who want to hire more Hoosiers.
“The corporate income tax will also continue to be phased down to 4.9 percent. Once fully phased in, we will have the second lowest rate in the country. I am confident this will lead to more employment opportunities for Hoosiers.”