Olympic medalists could get Indiana tax break - WTVM.com-Columbus, GA News Weather & Sports

Olympic medalists could get Indiana tax break

Posted: Updated:
  • NEWSMore>>

  • Homeless man found dead near railroad tracks

    Homeless man found dead near railroad tracks

    Thursday, July 17 2014 9:49 AM EDT2014-07-17 13:49:05 GMT
    The body of a homeless man was found Tuesday morning on the railroad tracks near Fifth Avenue and 16th Street in Columbus. Muscogee County Coroner Buddy Bryan has identified the 62-year-old victim but saysMore >>
    The body of a homeless man was found Tuesday morning on the railroad tracks near Fifth Avenue and 16th Street in Columbus.More >>
  • Central High School facing problems through the roof

    Central High School facing problems through the roof

    Friday, July 25 2014 1:25 AM EDT2014-07-25 05:25:00 GMT
    Superintendent Randy Wilkes tells me the building springing leaks is no surprise since the roof was expect to last 20 years and it's now in its twenty-fourth. He says the Phenix City Board of EducationMore >>
    Central High School in Phenix City facing major roof repairs just weeks before school starts back. Superintendent Randy Wilkes says the roof and domes on the school are leaking inside the building. It's an issue that could cost hundreds of thousands to repair. News Leader Nine's Tyrone McCoy has what school leaders are doing about it.More >>
  • SPECIAL REPORT: Couponing is Cool

    SPECIAL REPORT: Couponing is Cool

    Friday, July 25 2014 12:49 AM EDT2014-07-25 04:49:08 GMT
    These days the typical coupon clipper is a lot younger than you may think. Believe it or not it's millennial who are going coupon crazy whether it's in person or looking up deals online. Manager of theMore >>
    These days the typical coupon clipper is a lot younger than you may think.  Believe it or not it's millennial who are going coupon crazy whether it's in person or looking up deals online.More >>
Indiana (FOX19) -

Indiana Olympic medal winners like Nick Goepper from Lawrenceburg would receive a break from state income taxes, thanks to a new proposal approved Friday by the Indiana House of Representatives.

Authored by State Rep. Terri J. Austin (D-Anderson), the bill was approved by a vote of 69-20.

Austin's proposal, inserted in Senate Bill 161, would grant any Hoosier an exemption from paying any state adjusted gross income taxes on the cash award they receive from winning a gold, silver or bronze medal at a Winter or Summer Olympics. Olympic medal winners receive $25 thousand for gold, $15 thousand for silver and $10 thousand for bronze.

If the proposal becomes law, it would have an immediate impact on Goepper, who won a bronze medal in the freeski slopestyle event at the recently-completed Sochi Winter Olympics.

"Recently, I read information from U.S. Congressman Luke Messer (R-Indiana) that brought to my attention the incredibly unfair tax burdens that Olympic medal winners face at both the state and federal levels," Austin told House members during debate on the proposal.

"These men and women spend many years and make many sacrifices in order to pursue their dreams, and I don't think we need to penalize them for succeeding at a level that brings worldwide recognition for themselves, their state and their country," she added.

The U.S. Olympic Committee awards winning athletes with $25 thousand for winning a gold medal, $15 thousand for silver, and $10 thousand for bronze. Under current law, U.S. Olympic athletes are taxed at 35 percent on the prize money and value of the medal. A similar proposal is being considered in Illinois and in the U.S. Congress.

The proposal drew support from both sides of the aisle in the House, including State Rep. Eric Turner (R-Cicero), the sponsor of Senate Bill 161.

The measure is now eligible for final consideration by the full House. Once approval is secured, the legislation will return to the Indiana Senate for consideration of the changes made in the House.

Copyright 2014 WXIX. All rights reserved.   

Powered by WorldNow

1909 Wynnton Road
Columbus, Ga. 31906

FCC Public File
publicfile@wtvm.com
706-494-5400
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and WTVM. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.