Ind. Code Ann. CNB filed this original tax appeal on August 5, 1996. This Court heard oral argument on that motion on April 4, 1997. This court reviews final determinations of the Department de novo and is bound neither by the evidence nor the issues raised at the administrative level. Ind. Code Ann.
Summary judgment is appropriate only when no genuine issue of material fact exists.
The Department claims that CNB is a zone business. See footnote 2 Zone businesses are required to pay an annual registration fee and to reinvest in the EZ any credits they receive. Ind. Code Ann. Therefore, the Department contends that CNB's failure to do either of these things disqualifies it from being a zone business and therefore from receiving the credit. See footnote 3 CNB argues that any taxpayer that receives interest on a qualified loan See footnote 4 is entitled to the credit whether that taxpayer is a zone business or not.