House Bill 1385
Introduced House Bill (H)
DIGEST
Industrial rail service fund. Increases the amount of state gross and retail and use taxes deposited into the industrial rail service fund (IRSF) from 0.029% to 0.099% of the taxes collected each year. Authorizes the Indiana department of transportation to make grants from the IRSF to reimburse a Class II or a Class III railroad for public safety expenditures. Provides that a grant from the IRSF to a Class II or a Class III railroad for the rehabilitation of railroad infrastructure or railroad construction may not exceed 20% of the gross sales and use tax receipts deposited in the IRSF
Industrial rail service fund. Increases the amount of state gross and retail and use taxes deposited into the industrial rail service fund (IRSF) from 0.029% to 0.099% of the taxes collected each year. Authorizes the Indiana department of transportation to make grants from the IRSF to reimburse a Class II or a Class III railroad for public safety expenditures. Provides that a grant from the IRSF to a Class II or a Class III railroad for the rehabilitation of railroad infrastructure or railroad construction may not exceed 20% of the gross sales and use tax receipts deposited in the IRSF
in the previous state fiscal year.
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