Rep. Morris introduced House Bill 1530, Personal Property Exemption
STATEHOUSE — Rep. Robert Morris (R- Fort Wayne) introduced House Bill 1530 today, Thursday, January 15. HB1530 regards the tax exemption of personal property.
“I am thrilled to introduce a bill that will incentivize new business growth and opportunity for our state,” said Rep. Morris. “The exemptions will provide an opportunity for Hoosier small businesses to investment more towards job creation and expansion.”
House Bill 1530 gives taxpayers the access to a tax exemption of new personal property up to the first $100,000. Counties concerned with the loss to their local government, have the option to opt out of the personal property exemption for their particular county.
Businesses will be able to use these funds in order to expand their companies and create opportunities for their business that they may not have had otherwise. The bill creates an incentive for small business owners to open up their companies in Indiana, instead of other states.
“By providing Hoosiers with a personal property exemption, we can help cultivate an economy where new businesses can flourish through expanded investment opportunity and the development of new job opportunities,” said Rep. Morris.