Governor Pence refuses to take a stance on the two versions of the business personal property tax reform proposed by the Indiana House and Senate.
"I don’t want us to be regarded as 'the branch plant state,'" says the Henry County Council president – who also works for the county's largest manufacturer.
The caps saved Indiana property owners a total of $704 million on their tax bills last year. But some local governments really miss those revenues.
The tax on business equipment brings in about $1 billion a year that goes toward local governments.
Indiana school districts would lose an additional $150 million in local revenues if the state completely eliminated the business personal property tax.
With the a tax expert's help, StateImpact explains how Indiana's levy on business equipment works — and how its phase-out would impact local governments.
At the urging of Governor Mike Pence, the Indiana legislature is weighing whether to eliminate or reduce a tax on business equipment.
The Republican plan would allow local governments to eliminate a tax on purchases of new business equipment.
The Senate Republican plan calls for exemptions to the business personal property tax and a reduction of the state's corporate tax.
Legislators plan to debate a range of issues from a constitutional amendment banning gay marriage to a tax on office furniture.