KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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SB213 • 2026

A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Senator Travis Holdman
Last action
2026-01-28
Official status
Engrossed Senate Bill (H)
Effective date
Not listed

Plain English Breakdown

The bill summary and digest do not provide specific details on which financial transactions qualify for the deduction.

Income Tax Deduction for Theft Loss

This bill creates an income tax deduction for individuals who incur federal gross income due to certain financial transactions induced by third parties.

What This Bill Does

  • Creates an income tax deduction for theft losses resulting from specific financial transactions induced by third parties and causing the individual to incur federal gross income as a result of the theft.
  • Requires certification by the Department of State Revenue before taxpayers can claim this deduction.

Who It Names or Affects

  • Taxpayers who experience certain types of financial fraud and incur federal gross income as a result.

Terms To Know

Income tax deduction
A reduction in the amount of income that is taxed, which can lower the total tax owed.
Theft loss
Money lost due to theft or fraud.

Limits and Unknowns

  • It is not clear how much money this deduction will save taxpayers.
  • The bill does not specify which financial transactions qualify for the deduction.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SB0213.01.INTR.AMS01

Committee Introduced Senate Bill (S) • Senator Travis Holdman

Filed

Plain English: The amendment proposes to change the Indiana Code regarding deductions for taxation.

  • Modifies the rules related to tax deductions in the Indiana Code.
  • The official text does not provide specific details about what changes will be made to the deduction rules, making it hard to explain exactly how this amendment would affect taxpayers.
SB0213.02.COMS.AMS001

Filed Senate Bill (S) • Senator Travis Holdman

Passed

Plain English: This amendment changes the Indiana Code to adjust certain tax provisions.

  • The amendment modifies specific sections of the Indiana Code related to taxation, but the exact details are not provided in the given text.
  • The official amendment text does not provide enough information to specify exactly which parts of the Indiana Code concerning taxation will be changed.

Bill History

  1. 2026-01-28 House

    First reading: referred to Committee on Ways and Means

  2. 2026-01-27 Senate

    Referred to the House

  3. 2026-01-26 Senate

    Third reading: passed; Roll Call 77: yeas 43, nays 1

  4. 2026-01-26 Senate

    House sponsor: Representative Thompson

  5. 2026-01-26 Senate

    Cosponsor: Representative Snow

  6. 2026-01-22 Senate

    Second reading: amended, ordered engrossed

  7. 2026-01-22 Senate

    Amendment #1 (Holdman) prevailed; voice vote

  8. 2026-01-20 Senate

    Committee report: amend do pass, adopted

  9. 2026-01-15 Senate

    Senator Randolph added as coauthor

  10. 2026-01-12 Senate

    Senator Qaddoura added as second author

  11. 2026-01-08 Senate

    Authored by Senator Holdman

  12. 2026-01-08 Senate

    First reading: referred to Committee on Tax and Fiscal Policy

Official Summary Text

A BILL FOR AN ACT to amend the Indiana Code concerning taxation.
Income tax deduction for theft loss.

Current Bill Text

Read the full stored bill text 
A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Income tax deduction for theft loss.

Provides an income tax deduction for theft losses that result from certain financial transactions induced by third parties and that cause the individual to incur federal gross income as a result of the theft. Requires the department of state revenue to first certify the theft loss deduction before a taxpayer may claim the deduction in a taxable year.