FOR IMMEDIATE RELEASE
Contact: Lance Gideon, Press Secretary
Lance.Gideon@iga.in.gov
317-234-9221
STATEHOUSE (Feb. 18, 2025) — A bill authored by State Sen. Brian Buchanan (R-Lebanon) to increase capital investment in businesses in rural Indiana passed the Indiana Senate today 47-2 with bipartisan support.
Senate Bill 346 would give a tax credit to an investor who provides capital for companies for projects in rural parts of the state or small towns.
"Rural communities are the backbone of Indiana's heritage," Buchanan said. "SB 346 would give small and rural towns across the state access to necessary capital investment for needed economic growth."
The money given to investment companies would be deposited into a rural business growth fund, which could then be utilized to help finance projects throughout Indiana.
"As someone who lives in rural Indiana, I've seen firsthand the need to invest in these areas of the state," Buchanan said. "I'm happy to see SB 346 pass the Senate and look forward to working on the bill with my colleagues as it continues to move through the legislative process."
SB 346 now moves to the House of Representatives for further consideration.
Buchanan encourages residents of Senate District 7 to contact him with any questions or comments they may have. Buchanan can be reached by filling out a "Contact Me" form online at www.IndianaSenateRepublicans.com/Buchanan or by phone at 800-382-9467.
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State Sen. Brian Buchanan (R-Lebanon) represents Senate District 7,
which includes portions of Boone, Clinton, Hendricks and Montgomery counties.
Click here to download a high-resolution photo.
