Indiana Updates IRC References for Adoption Credit, Depreciation to Conform With OB3

The Indiana Governor signed a law that has amended the Indiana Tax Code to specify that certain provisions will reference the IRC as in effect on July 4, 2025, rather than Jan. 1, 2023, to conform with certain provisions enacted under Public Law 119-21, the One Big Beautiful Bill Act (OB3). The affected provisions relate to IRC §23 (adoption credit), IRC §168(e)(3)(B)(vi) (depreciation), and IRC §223(c)(2)(E) (health savings accounts). [S.B. 212, enacted 01/29/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.