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ACTION REQUESTED:  CONTACTS ON INHERITANCE TAX PHASE-OUT NEEDED NOW  

On Wednesday in House Ways & Means, Rep. Eric Turner (R-Cicero) psented SB 293 for a committee vote and it passed out by a margin of 22-3As amended, SB 293 phases-out Indiana’s inheritance tax over 10 years beginning July 1, 2012.  The bill will help estates over the next 10 years by increasing the exemption amounts for the classification of those inheriting property for Class A (child) from $100,000 to $250,000, and for Classes B (sibling) and C (anyone not a spouse, child, or sibling) from $500 and $100 respectively to $25,000. Farm Bureau’s Katrina Hall has testified in favor of both SB 293 and HB 1199.  The committee report for SB 293 was adopted by the House on Thursday, so SB 293 will be eligible for second reading as early as Monday and a final vote the day after.

This is the most promising chance in a generation to repeal the inheritance tax.  As soon as possible, Farm Bureau members are asked to contact legislators and ask for successful passage of inheritance tax reform included in SB 293 that includes complete elimination.

Contact should be made to ALL legislators in the House and Senate:
Call House members at 317-232-9600 or 1-800-382-9842.
Senators can be reached at 317-232-9400 or 1-800-382-9467
Email legislators at http://www.in.gov/cgi-bin/legislative/contact/contact.pl

Please make sure if you call or email, you are registering your position with the correct legislator.  REPORT CONTACT by emailing ppt@infarmbureau.org or calling BJ at 317-692-7834.

               TALKING POINTS:

  • The repeal of the inheritance tax is important to provide more opportunity for the next generation of farmers to come back into agriculture.
  • Inheritance tax is burdensome for farmers because their operations are capital intensive.
  • Indiana’s farmers cannot move assets to other states to avoid this tax like other Indiana residents are doing.
  • Farmers incur high estate planning costs in efforts to reduce inheritance tax and pserve their businesses.
  • Farmers often change business structures that are not as flexible for their business needs to avoid inheritance tax.
  • Inheritance tax revenues for local governments are not a stable source of revenue and can easily be phased-out for state government.
  • There are only a few states that impose an inheritance tax on residents.
  • Farmers and small business owners are disproportionately impacted by this tax.
  • Personal examples are always a good idea.

MESSAGE:  Support the repeal of the Indiana inheritance tax. Farm Bureau members are asked to contact legislators and ask for successful passage of the inheritance tax reform that includes complete elimination.

               Other supporting organizations: 

  • Indiana Manufacturers Association
  • Indiana Chamber of Commerce
  • National Federation of Independent Business

 

ACTION REQUESTED:  SB 132 Municipal Jurisdiction Over Aquifers, Gard (R-Greenfield) and Wolkins (R-Winona Lake)

After Committee Chair Jack Lutz (R-Anderson) delayed the vote for a week, the House Utilities Committee approved SB 132 (Sen. Beverly Gard, R-Greenfield and Rep. Dave Wolkins, R-Winona Lake).  As reported in last week’s Dispatch, the bill contains a provision that would exclude underground aquifers from the definition of “watercourse" as that term is used in several statutes that give cities and towns the authority to regulate “watercourses” ten miles outside their municipal boundaries.  This provision was strongly opposed by the Indiana Association of Cities and Towns who had mayors and other elected officials lobby committee members.  Their attention will now be to the full membership of the House in an effort to defeat it on the floor.  To counter this effort by municipalities, Farm Bureau psident Don Villwock wrote to each member of the House of Repsentatives asking them to support SB 132 as it was reported by the committee. 

Farm Bureau members are asked to contact their own state repsentatives with a similar message. 

Contact should be made to the House:
Call House members at 317-232-9600 or 1-800-382-9842.
Email legislators at http://www.in.gov/cgi-bin/legislative/contact/contact.pl

Please make sure if you call or email, you are registering your position with the correct legislator.  REPORT CONTACT by emailing ppt@infarmbureau.org or calling BJ at 317-692-7834.

 

               MESSAGE:  Support passage of SB 132 as reported by the committee.

              

               OPPOSING ORGANIZATIONS:

Cities and Towns

 

ACTION REQUESTED:  Soil Productivity Factors, Hershman (R-Buck Creek)   Earlier this month, the Department of Local Government Finance issued new soil productivity factors that were to be used in the calculation of farmland’s taxable value for March 1, 2012 payable in 2013.  This coincided with the general reassessment now in progress.  These changed factors came as a surprise to assessors and legislators.  They also came with the surprise of a pdicted $57.4 increase in farmland taxes for 2013 above normal increases associated with increases to the base rate.  Both houses of the legislature reacted swiftly with amendments to delay the implementation of the new factors for one year until the issue can be reviewed.  Katrina Hall thanked both Sen. Brandt Hershman and Rep. Jeff Espich who put forth those amendments, but one of the bills containing the amendments – SB 19 and HB 1190 - needs to pass.  SB 19 and HB 1190 both deal with rolling reassessment practices and were supported by Farm Bureau in committee.

With just 2 weeks left in the session, members are asked to contact legislators and ask for their support of language delaying the recently issued soil productivity factors as added to SB 19 and HB 1190.

Contact should be made to ALL legislators in the House and Senate:
Call House members at 317-232-9600 or 1-800-382-9842.
Senators can be reached at 317-232-9400 or 1-800-382-9467
Email legislators at http://www.in.gov/cgi-bin/legislative/contact/contact.pl

Please make sure if you call or email, you are registering your position with the correct legislator.  REPORT CONTACT by emailing ppt@infarmbureau.org or calling BJ at 317-692-7834.

 

MESSAGE:  Legislators need to be encouraged to support any amendment or any bill that will delay the implementation of DLGF’s newly revised proposed soil productivity factors. 

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