The Indiana Senate and the House have both passed separate measures that would eliminate or significantly reduce the state’s inheritance tax, which generates roughly $150 million annually.

A chunk of revenue goes to county governments. Supporters say money from a new online sales tax will help offset the loss.

The House plan would phase out the tax over 10 years and the Senate plan would trim it over the next five years. Lawmakers who support the proposal said they hope to reach a compromise by the end of March, when the state’s legislative session ends.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.