To date, Pence has not yet declared an intention to run for president, but the proposal would allow him (or any other state lawmaker) to seek both re-election to their current office and election to any federal office at the same time. Indiana law currently bars candidates from seeking a state office and federal office on the same ballot, which can force a decision for ambitious politicians.
The legislation is similar to discussion currently going on in Kentucky as well, where supporters of US Senator Rand Paul would like to alter rules allowing him to seek the presidency without having to leave his Senate seat.
Pence’s travels around the country and abroad over the past year have ignited talk of a possible White House run. He has stated that he is considering it, but will not announce a decision until at least April 2015.
Source: Indy Star