SB 292 Indiana Senate · 2025 Regular Session

Short line railroad tax credit.

Summary

Allows a taxpayer to claim a credit against state income tax liability for certain qualified railroad expenditures and qualified new rail infrastructure expenditures. Specifies the amount of the credit. Limits the total amount of credits that may be allowed in a state fiscal year to: (1) $10,000 for qualified railroad expenditures; and (2) $10,000 for qualified new rail infrastructure expenditures.

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Jan 13, 2025 Last action Mar 13, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Senate Bill (S) → Senate Bill (H) · 6 edits

MODERATE

The bill number was updated from SB 292.1 to SB 292.2, and the effective date was changed from January 22, 2025 to February 5, 2025. Most significantly, the maximum tax credit amounts were drastically reduced from $9.5 million and $10 million to just $10,000 each for qualified railroad and rail infrastructure expenditures. This represents a major reduction in the financial incentive for railroad investment projects.

Scope change

The bill's scope was significantly narrowed by reducing the maximum allowable tax credits from millions of dollars to just $10,000 per category, effectively limiting the program's financial impact.

FISCAL

Maximum tax credit for qualified railroad expenditures reduced from $9,500,000 to $10,000

Maximum tax credit for qualified new rail infrastructure expenditures reduced from $10,000,000 to $10,000

TIMELINE

Digest update date changed from January 21, 2025 to February 4, 2025

New legislative action recorded: February 4, 2025 amended and reported favorably for Do Pass

TECHNICAL

Citations Affected section now includes 'noncode' designation

Bill number updated from SB 292.1 to SB 292.2

Floor votes · Senate Feb 10, 2025

How they voted

46–3

Passed · 1 other

Total votes 50

Feb 10, 2025

D Democratic10

10 Yea

100% Yea

R Republican40

36 Yea 3 Nay 1

90% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 10, 2025

Upper · Passed

Third reading: passed; Roll Call 88: yeas 46, nays 3

upper

Feb 4, 2025

Upper · Passed

Committee report: amend do pass, adopted

upper

Jan 21, 2025

Upper · Passed

Committee report: amend do pass adopted; reassigned to Committee on Tax and Fiscal Policy

upper

4 primary · 11 co-sponsors