Senate approves Rep. Crouch's bill to aid homebuilders STATEHOUSE - A bill authored by State Representative Suzanne Crouch (R-Evansville) to help homebuilders in the state was approved in the Senate on Tuesday by a vote of 43-5.House Bill 1046 gives homebuilders a 50 percent property tax deduction for newly-built homes that have not sold. Current state law taxes these vacant homes like any other home, which can create a financial burden on homebuilders. The property tax deduction would expire when a home is sold. "In these difficult times for the housing market, it is important to help out those that are caught in the downturn," said Rep. Crouch. "When you look at the news, you see these homebuilders going out of business all over Indiana, leaving unfinished housing projects, half built neighborhoods not to mention many jobs. "This bill helps alleviate some of the financial burden on these already struggling builders. These homes are their income. Farmers receive tax deductions on their crops, auto dealers receive tax deductions on the cars in their lot, and this simply applies the same principle to our Hoosier homebuilders." Since the Senate added amendments to the bill that were approved by Rep. Crouch, HB 1046 will now come back to the House for final approval before going to the Governor's desk. -30- |
