An additional short-session goal was to continue making Indiana’s tax climate one of the best in the nation for job creation and new business investment. We cut individual and inheritance taxes in 2013 and this year further reduced financial institution and corporate taxes to give Hoosier businesses the second-lowest corporate tax in the nation when fully phased in by 2022. We also gave new tools to local government to exempt employers from business personal property taxes on an optional basis beginning next year. This will grant cities, towns and counties the opportunity to spur new investment and employment throughout the state.
Another initiative repealed dozens of arcane and burdensome statutes from the Indiana Code furthering our efforts to reduce red tape, duplicative regulations and bureaucracy for all Hoosiers and resulting in a leaner, more efficient state government. Just one of those provisions will eliminate thousands of pages of recorded bureaucratic disclosures in commercial real estate transfers throughout Indiana.
Detractors will no doubt claim the 2014 session was dominated by social issues, or little of substance was accomplished. Privately, however, even our Democrat colleagues have stated their appreciation for the bipartisan tone of this session and the exceptional work accomplished in a short, 10-week span. While we have certainly had our differences, Hoosiers have been well-served by Republican and Democrat legislators alike during the 118th General Assembly, and it has been my sincere privilege to serve as its speaker.
State Rep. Brian Bosma, R-Indianapolis, is speaker of the Indiana House.