reglab/housing_qa huggingface dataset:
IN Code § 6-3.1-9-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 9. Neighborhood Assistance Credits|6-3.1-9-5. Limitation on Tax Credits; Approval of Applications; Failure to File Statement of Proof of Payment

Sec. 5. (a) The amount of tax credits allowed under this chapter may not exceed two million five hundred thousand dollars ($2,500,000) in the state fiscal year beginning July 1, 1997, and ending June 30, 1998, and each state fiscal year thereafter.(b) The department shall record the time of filing of each application for allowance of a credit required under section 4 of this chapter and shall approve the applications, if they otherwise qualify for a tax credit under this chapter, in the chronological order in which the applications are filed in the state fiscal year.(c) When the total credits approved under this section equal the maximum amount allowable in any state fiscal year, no application thereafter filed for that same fiscal year shall be approved. However, if any applicant for whom a credit has been approved fails to file the statement of proof of payment required under section 4 of this chapter, an amount equal to the credit previously allowed or set aside for the applicant may be allowed to any subsequent applicant in the year. In addition, the department may, if the applicant so requests, approve a credit application, in whole or in part, with respect to the next succeeding state fiscal year.As added by P.L.51-1984, SEC.1. Amended by P.L.95-1995, SEC.1; P.L.64-1997, SEC.1.
IN Code § 6-3.1-9-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 9. Neighborhood Assistance Credits|6-3.1-9-6. Allowable Years of Credit

Sec. 6. A tax credit shall be allowable under this chapter only for the taxable year of the taxpayer in which the contribution qualifying for the credit is paid or permanently set aside in a special account for the approved program or purpose.As added by P.L.51-1984, SEC.1.
IN Code § 6-3.1-10-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-1. "Enterprise Zone" Defined

Sec. 1. As used in this chapter, "enterprise zone" means an enterprise zone created under IC 5-28-15.As added by P.L.9-1986, SEC.8. Amended by P.L.4-2005, SEC.56.
IN Code § 6-3.1-10-1.7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-1.7. "Pass Through Entity" Defined

Sec. 1.7. As used in this chapter, "pass through entity" means:(1) a corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2);(2) a partnership;(3) a limited liability company; or(4) a limited liability partnership.As added by P.L.57-1996, SEC.1.
IN Code § 6-3.1-10-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-2. "Qualified Investment" Defined

Sec. 2. As used in this chapter, "qualified investment" means the purchase of an ownership interest in a business located in an enterprise zone if the purchase is approved by the Indiana economic development corporation under section 8 of this chapter.As added by P.L.9-1986, SEC.8. Amended by P.L.379-1987(ss), SEC.8; P.L.4-2005, SEC.57.
IN Code § 6-3.1-10-2.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-2.5. "Sic Manual" Defined

Sec. 2.5. As used in this chapter, "SIC Manual" refers to the current edition of the Standard Industrial Classification Manual of the United States Office of Management and Budget.As added by P.L.379-1987(ss), SEC.9. Amended by P.L.24-1995, SEC.23.
IN Code § 6-3.1-10-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-3. "State Tax Liability" Defined

Sec. 3. As used in this chapter, "state tax liability" means a taxpayer's total tax liability that is incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax), as computed after the application of the credits that, under IC 6-3.1-1-2, are to be applied before the credit provided by this chapter.As added by P.L.9-1986, SEC.8.
IN Code § 6-3.1-10-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-4. "Taxpayer" Defined

Sec. 4. (a) As used in this chapter, "taxpayer" means any individual that has any state tax liability.(b) Notwithstanding subsection (a), for a credit for a qualified investment in a business located in an enterprise zone in a county having a population of more than one hundred five thousand (105,000) but less than one hundred ten thousand (110,000), "taxpayer" includes a pass through entity.As added by P.L.9-1986, SEC.8. Amended by P.L.24-1995, SEC.24; P.L.57-1996, SEC.2; P.L.170-2002, SEC.23.
IN Code § 6-3.1-10-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-5. "Transfer Ownership" Defined

Sec. 5. As used in this chapter, "transfer ownership" means to purchase existing investment in a business, including real property, improvements to real property, or equipment.As added by P.L.9-1986, SEC.8.
IN Code § 6-3.1-10-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-6. Credit for Qualified Investment; Amount

Sec. 6. (a) A taxpayer is entitled to a credit against the taxpayer's state tax liability for a taxable year if the taxpayer makes a qualified investment in that taxable year.(b) The amount of the credit to which a taxpayer is entitled is the percentage determined under section 8 of this chapter multiplied by the price of the qualified investment made by the taxpayer during the taxable year.As added by P.L.9-1986, SEC.8.
IN Code § 6-3.1-10-6.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-6.5. Pass Through Entity; Credit

Sec. 6.5. (a) If a pass through entity is entitled to a credit under section 6 of this chapter but does not have state tax liability against which the tax credit may be applied, an individual who is a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to:(1) the tax credit determined for the pass through entity for the taxable year; multiplied by(2) the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.(b) The credit provided under subsection (a) is in addition to a tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and an individual who is a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same investment.As added by P.L.57-1996, SEC.3.
IN Code § 6-3.1-10-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-7. Carryover of Excess Credit

Sec. 7. (a) If the amount determined under section 6(b) of this chapter for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the following taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.(b) A taxpayer is not entitled to a carryback or refund of any unused credit.As added by P.L.9-1986, SEC.8.
IN Code § 6-3.1-10-8 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-8. Qualifying for Credit; Request for Determination; Findings; Certification of Credit Percentage; Application of Credit on Transfer of Ownership

Sec. 8. (a) To be entitled to a credit, a taxpayer must request the Indiana economic development corporation to determine:(1) whether a purchase of an ownership interest in a business located in an enterprise zone is a qualified investment; and(2) the percentage credit to be allowed.The request must be made before a purchase is made.(b) The Indiana economic development corporation shall find that a purchase is a qualified investment if:(1) the business is viable;(2) the business has not been disqualified from enterprise zone incentives or benefits under IC 5-28-15;(3) the taxpayer has a legitimate purpose for purchase of the ownership interest;(4) the purchase would not be made unless a credit is allowed under this chapter; and(5) the purchase is critical to the commencement, enhancement, or expansion of business operations in the zone and will not merely transfer ownership, and the purchase proceeds will be used only in business operations in the enterprise zone.The Indiana economic development corporation may delay making a finding under this subsection if, at the time the request is filed under subsection (a), an urban enterprise zone association has made a recommendation that the business be disqualified from enterprise zone incentives or benefits under IC 5-28-15 and the board of the Indiana economic development corporation has not acted on that request. The delay by the Indiana economic development corporation may not last for more than sixty (60) days.(c) If the Indiana economic development corporation finds that a purchase is a qualified investment, the Indiana economic development corporation shall certify the percentage credit to be allowed under this chapter based upon the following:(1) A percentage credit of ten percent (10%) may be allowed based upon the need of the business for equity financing, as demonstrated by the inability of the business to obtain debt financing.(2) A percentage credit of two percent (2%) may be allowed for business operations in the retail, professional, or warehouse/distribution codes of the SIC Manual.(3) A percentage credit of five percent (5%) may be allowed for business operations in the manufacturing codes of the SIC Manual.(4) A percentage credit of five percent (5%) may be allowed for high technology business operations (as defined in IC 5-28-15-1).(5) A percentage credit may be allowed for jobs created during the twelve (12) month period following the purchase of an ownership interest in the zone business, as determined under the following table:
IN Code § 6-3.1-10-9 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-9. Claiming Credit

Sec. 9. To receive the credit provided by this chapter, a taxpayer must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department of state revenue. The taxpayer shall submit to the department of state revenue the certification of the percentage credit by the Indiana economic development corporation and all information that the department of state revenue determines is necessary for the calculation of the credit provided by this chapter and for the determination of whether an investment cost is a qualified investment cost.As added by P.L.9-1986, SEC.8. Amended by P.L.4-2005, SEC.59.
IN Code § 6-3.1-10-10 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 10. Enterprise Zone Investment Cost Credit|6-3.1-10-10. Program Expiration; Treatment of Credit Carryovers

Sec. 10. (a) Notwithstanding any other law and except as provided in subsection (b), a taxpayer is entitled to receive a credit under this chapter only for a qualified investment made before January 1, 2018.(b) A taxpayer is entitled to receive a credit for a qualified investment made after December 31, 2017, and before January 1, 2028, if the qualified investment is approved by the Indiana economic development corporation before January 1, 2018.(c) This section may not be construed to prevent a taxpayer from carrying an unused tax credit attributable to a qualified investment made before January 1, 2018, or made as provided in subsection (b) forward to a taxable year beginning after December 31, 2017, and before January 1, 2028, in the manner provided by section 7 of this chapter.(d) This chapter expires January 1, 2028.As added by P.L.238-2017, SEC.21.
IN Code § 6-3.1-11-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-1. "Applicable Percentage"

Sec. 1. As used in this chapter, "applicable percentage" means the percentage determined as follows:(1) If a plant was placed in service at least fifteen (15) years ago but less than thirty (30) years ago, the applicable percentage is fifteen percent (15%).(2) If a plant was placed in service at least thirty (30) years ago but less than forty (40) years ago, the applicable percentage is twenty percent (20%).(3) If a plant was placed in service at least forty (40) years ago, the applicable percentage is twenty-five percent (25%).The time that has expired since a plant was placed in service shall be determined as of the date that an application is filed with the corporation. However, in the case of an industrial recovery site described in section 5(2) of this chapter, the time that has expired since a plant was placed in service shall be determined as of the date on which the demolition of the vacant plant was completed.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.113-2011, SEC.1; P.L.288-2013, SEC.34; P.L.204-2016, SEC.16.
IN Code § 6-3.1-11-2.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-2.5. "Corporation"

Sec. 2.5. As used in this chapter, "corporation" refers to the Indiana economic development corporation created under IC 5-28-3 unless the context clearly denotes otherwise.As added by P.L.288-2013, SEC.36.
IN Code § 6-3.1-11-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-4. "Floor Space"

Sec. 4. As used in this chapter, "floor space" means the usable interior floor space of a building.As added by P.L.379-1987(ss), SEC.11.
IN Code § 6-3.1-11-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-5. "Industrial Recovery Site"

Sec. 5. As used in this chapter, "industrial recovery site" means land on which a vacant plant having at least one hundred thousand (100,000) square feet of total floor space:(1) exists as of the date an application is filed with the corporation under this chapter and was placed in service at least fifteen (15) years before the date on which an application is filed with the corporation under this chapter; or(2) existed within five (5) years before the date an application is filed with the corporation under this chapter and was placed in service at least fifteen (15) years before the date on which the demolition of the vacant plant was completed.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.204-2016, SEC.18.
IN Code § 6-3.1-11-8 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-8. "Placed in Service"

Sec. 8. As used in this chapter, "placed in service" means that property is placed in a condition or state of readiness and availability for a specifically assigned function. In the case of a plant comprised of a complex of buildings, the entire plant shall be considered to have been placed in service as of the date that a building was placed in service if the building has floor space that, when aggregated with the floor space of all buildings in the complex placed in service on earlier dates, exceeds fifty percent (50%) of the total floor space of all buildings in the complex.As added by P.L.379-1987(ss), SEC.11.
IN Code § 6-3.1-11-9 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-9. "Plant"

Sec. 9. As used in this chapter, "plant" means a building or complex of buildings used, or designed and constructed for use, in production, manufacturing, fabrication, assembly, processing, refining, finishing, or warehousing of tangible personal property, whether the tangible personal property is or was for sale to third parties or for use by the owner in the owner's business.As added by P.L.379-1987(ss), SEC.11.
IN Code § 6-3.1-11-10 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-10. "Qualified Investment"

Sec. 10. As used in this chapter, "qualified investment" means the amount of the taxpayer's expenditures for rehabilitation of property located within an industrial recovery site.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.288-2013, SEC.37.
IN Code § 6-3.1-11-11 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-11. "Rehabilitation"

Sec. 11. As used in this chapter, "rehabilitation" means the remodeling, repair, or betterment of real property in any manner or any enlargement or extension of real property.As added by P.L.379-1987(ss), SEC.11.
IN Code § 6-3.1-11-12 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-12. "State Tax Liability"

Sec. 12. As used in this chapter, "state tax liability" means the taxpayer's total tax liability that is incurred under:(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);(2) IC 27-1-18-2 (the insurance premiums tax) or IC 6-8-15 (the nonprofit agricultural organization health coverage tax); and(3) IC 6-5.5 (the financial institutions tax);as computed after the application of the credits that, under IC 6-3.1-1-2, are to be applied before the credit provided by this chapter.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.80-1989, SEC.10; P.L.347-1989(ss), SEC.16; P.L.192-2002(ss), SEC.101; P.L.154-2020, SEC.13.
IN Code § 6-3.1-11-13 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-13. "Taxpayer"

Sec. 13. As used in this chapter, "taxpayer" means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of an industrial recovery site. The term includes an assignee that is assigned some part of a credit under section 16(c) of this chapter.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.8-1993, SEC.89; P.L.8-1996, SEC.9; P.L.74-2020, SEC.7.
IN Code § 6-3.1-11-14 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-14. "Vacant"

Sec. 14. As used in this chapter, "vacant" means with respect to a plant that at least seventy-five percent (75%) of the plant placed in service is not used to carry on production, manufacturing, assembly, processing, refining, finishing, or warehousing of tangible personal property.As added by P.L.379-1987(ss), SEC.11.
IN Code § 6-3.1-11-16 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-16. Credit for Qualified Investment; Computation of Amount; Assignment of Credit

Sec. 16. (a) Subject to entering into an agreement with the corporation under section 19.5 of this chapter and subject to section 21 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability for a taxable year if the taxpayer makes a qualified investment as certified by the corporation for that year.(b) The amount of the credit to which a taxpayer is entitled is the qualified investment made by the taxpayer and certified by the corporation for a taxable year multiplied by the applicable percentage.(c) The taxpayer may assign any part of the credit that the taxpayer may claim under this chapter. A credit that is assigned under this subsection remains subject to this chapter. If a taxpayer assigns a part of a credit during a taxable year, the assignee may not subsequently assign all or part of the credit to another taxpayer. Nothing in this subsection shall prohibit a taxpayer from making more than one (1) assignment of any part of the credit, but a taxpayer may not assign the same part of a credit more than once.(d) Before a credit may be assigned, the taxpayer must notify the corporation of the assignment of the credit in the manner prescribed by the corporation. An assignment of a credit must be in writing, and both the taxpayer and assignee shall report the assignment on the taxpayer's and the assignee's state tax returns for the year in which the assignment is made, in the manner prescribed by the department. A taxpayer may not receive value in connection with an assignment under this section that exceeds the value of the part of the credit assigned.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.8-1996, SEC.10; P.L.204-2016, SEC.22; P.L.74-2020, SEC.8; P.L.154-2020, SEC.14.
IN Code § 6-3.1-11-17 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-17. Carryover of Excess Credit; Carryback or Refund of Unused Credit Barred

Sec. 17. (a) If the amount determined under section 16(b) of this chapter for a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the immediately following taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.(b) A taxpayer is not entitled to a carryback or refund of any unused credit.As added by P.L.379-1987(ss), SEC.11.
IN Code § 6-3.1-11-18.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-18.5. Application to Enter Into Agreement With the Corporation

Sec. 18.5. (a) A taxpayer that proposes to make qualified investments on an industrial recovery site as provided under this chapter may apply to the corporation to enter into an agreement for a tax credit under this chapter.(b) The corporation shall prescribe the form of the application.As added by P.L.204-2016, SEC.23.
IN Code § 6-3.1-11-19 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 11. Industrial Recovery Tax Credit|6-3.1-11-19. Evaluation of Applications; Factors Considered; Additional Requirements for Certain Industrial Recovery Sites

Sec. 19. (a) The corporation shall consider the following factors in evaluating applications filed under this chapter:(1) The level of distress in the surrounding community caused by the loss of jobs at the industrial recovery site.(2) Evidence of support for the designation by residents, businesses, and private organizations in the surrounding community.(3) Evidence of a commitment by private or governmental entities to assist in the financing of improvements or redevelopment activities benefiting the industrial recovery site.(4) Whether the industrial recovery site is within an economic revitalization area designated under IC 6-1.1-12.1.(b) The corporation may not approve an application to receive tax credits under this chapter for qualified investments made on an industrial recovery site described in section 5(2) of this chapter unless the applicant can demonstrate that the plant was not maintained and was removed from the site in an effort to protect the health, safety, and welfare of the community.As added by P.L.379-1987(ss), SEC.11. Amended by P.L.146-2008, SEC.324; P.L.288-2013, SEC.40; P.L.204-2016, SEC.24.