SB 316 Indiana Senate · 2025 Regular Session

Investment partnership tax.

SB 316 establishes rules for determining where income from investment partnerships is taxed, directly affecting investment partnerships and their owners. The bill defines "investment partnership" and sets specific sourcing rules for calculating their adjusted gross income for tax purposes. This clarifies how income is attributed to the state for tax reporting, without changing tax rates or creating new taxes.

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 3, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduced Senate Bill (S) → Senate Bill (H) · 4 edits

MODERATE

The bill was amended to update the title format and add a new eligibility requirement for partnerships to qualify for investment security definitions. The amendment also changes the effective date reference and updates the legislative history section to reflect the committee's favorable report.

Scope change

The bill's scope was expanded to include additional partnership eligibility criteria, requiring partnerships to meet a percentage test in three of the five most recent taxable years to qualify.

ELIGIBILITY

Added a new requirement that partnerships must meet a percentage test in three of the five most recent taxable years to qualify for investment security definitions.

DEFINITION

Changed the definition of 'qualifying investment securities' to include additional partnership eligibility criteria.

TIMELINE

Updated the effective date reference from January 1, 2026, to reflect the amended version of the bill.

TECHNICAL

Updated the bill title format and legislative history section to reflect the amended version of the bill.

Floor votes · Senate Feb 10, 2025

How they voted

47–2

Passed · 1 other

Total votes 50

Feb 10, 2025

D Democratic10

8 Yea 2 Nay

80% Yea

R Republican40

39 Yea 1

97% 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 91: yeas 47, nays 2

upper

Feb 4, 2025

Upper · Passed

Committee report: amend do pass, adopted

upper

3 primary · 0 co-sponsors