reglab/housing_qa huggingface dataset:
IN Code § 6-3.1-22-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-4. "Qualified Expenditures"

Sec. 4. (a) As used in this chapter, "qualified expenditures" means expenditures for preservation or rehabilitation of a structure that enables the structure to be principally used and occupied by the taxpayer as the taxpayer's residence.(b) The term does not include costs that are incurred to do the following:(1) Acquire a property or an interest in a property.(2) Pay taxes due on a property.(3) Enlarge an existing structure.(4) Pay realtors' fees associated with a structure or property.(5) Pay paving and landscaping costs.(6) Pay sales and marketing costs.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-22-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-5. "Rehabilitation"

Sec. 5. As used in this chapter, "rehabilitation" means the process of returning a property to a state of utility through repair or alteration that makes possible an efficient contemporary residential use while preserving the parts or features of the property that are significant to the historical, architectural, or archeological values of the property.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-22-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-6. "State Tax Liability"

Sec. 6. As used in this chapter, "state tax liability" means a taxpayer's total tax liability incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax) as computed after the application of all 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.129-2001, SEC.7.
IN Code § 6-3.1-22-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-7. "Taxpayer"

Sec. 7. As used in this chapter, "taxpayer" means:(1) an individual filing a single return; or(2) a married couple filing a joint return.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-22-8 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-8. Entitlement to Credit

Sec. 8. (a) Subject to section 14 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability in the taxable year in which the taxpayer completes the preservation or rehabilitation of historic property and obtains the certifications required under section 9 of this chapter.(b) The amount of the credit is equal to twenty percent (20%) of the qualified expenditures that:(1) the taxpayer makes for the preservation or rehabilitation of historic property; and(2) are approved by the office.(c) In the case of a husband and wife who:(1) own and rehabilitate a historic property jointly; and(2) file separate tax returns;the husband and wife may take the credit in equal shares or one (1) spouse may take the whole credit.As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.28.
IN Code § 6-3.1-22-9 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-9. Qualifying Conditions; Assistance to Office by Department of Natural Resources

Sec. 9. (a) A taxpayer qualifies for a credit under section 8 of this chapter if all of the following conditions are met:(1) The historic property is:(A) located in Indiana;(B) at least fifty (50) years old; and(C) except as provided in section 8(c) of this chapter, owned by the taxpayer.(2) The office certifies that the historic property is listed in the register of Indiana historic sites and historic structures.(3) The office certifies that the taxpayer submitted a proposed preservation or rehabilitation plan to the office that complies with the standards of the office.(4) The office certifies that the preservation or rehabilitation work that is the subject of the credit substantially complies with the proposed plan referred to in subdivision (3).(5) The preservation or rehabilitation work is completed in not more than:(A) two (2) years; or(B) five (5) years if the preservation or rehabilitation plan indicates that the preservation or rehabilitation is initially planned for completion in phases.The time in which work must be completed begins when the physical work of construction or destruction in preparation for construction begins.(6) The historic property is principally used and occupied by the taxpayer as the taxpayer's residence.(7) The qualified expenditures for preservation or rehabilitation of the historic property exceed ten thousand dollars ($10,000).(b) The division of historic preservation and archaeology of the department of natural resources shall assist the office, as requested and at no expense to the office, in making the certifications under this section.As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.29.
IN Code § 6-3.1-22-10 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-10. Certifications for Rehabilitation Work

Sec. 10. (a) The office shall provide the certifications referred to in section 9(3) and 9(4) of this chapter if a taxpayer's proposed preservation or rehabilitation plan complies with the standards of the office and the taxpayer's preservation or rehabilitation work complies with the plan.(b) The taxpayer may appeal a final determination by the office under this chapter to the tax court.As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.30.
IN Code § 6-3.1-22-11 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-11. Credit Claimed on Tax Return

Sec. 11. To obtain a credit under 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 certifications by the office required under section 9 of this chapter and all information that the department of state revenue determines is necessary for the calculation of the credit provided by this chapter.As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.31.
IN Code § 6-3.1-22-12 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-12. Reduction of Adjusted Basis

Sec. 12. For purposes of IC 6-3, the adjusted basis of the structure shall be reduced by the amount of a credit granted under this chapter.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-22-13 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-13. Recaptured Credit

Sec. 13. (a) A credit claimed under this chapter shall be recaptured from the taxpayer if:(1) the property is transferred less than five (5) years after completion of the certified preservation or rehabilitation work; or(2) less than five (5) years after completion of the certified preservation or rehabilitation, additional modifications to the property are undertaken that do not meet the standards of the office.(b) If the recapture of a credit is required under this section, an amount equal to the credit recaptured shall be added to the tax liability of the taxpayer for the taxable year during which the credit is recaptured.As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.32.
IN Code § 6-3.1-22-14 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-14. Credit Exceeding Tax Liability

Sec. 14. (a) If the credit provided by this chapter exceeds a taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried over to succeeding taxable years and used as a credit against the tax otherwise due and payable by the taxpayer under IC 6-3 during those taxable years. Each time that the credit is carried over to a succeeding taxable year, the credit is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for fifteen (15) taxable years following the unused credit year.(b) A credit earned by a taxpayer in a particular taxable year shall be applied against the taxpayer's tax liability for that taxable year before any credit carryover is applied against that liability under subsection (a).(c) A taxpayer is not entitled to any carryback or refund of any unused credit.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-22-15 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-15. Maximum Credit

Sec. 15. The amount of tax credits allowed under this chapter may not exceed two hundred fifty thousand dollars ($250,000) in a state fiscal year beginning July 1, 2001, or thereafter.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-22-16 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 22. Residential Historic Rehabilitation Credit|6-3.1-22-16. Adoption of Rules

Sec. 16. The following may adopt rules under IC 4-22-2 to carry out this chapter:(1) The department of state revenue.(2) The division.As added by P.L.129-2001, SEC.7.
IN Code § 6-3.1-24-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-1. "Pass Through Entity" Defined

Sec. 1. 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.192-2002(ss), SEC.119.
IN Code § 6-3.1-24-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-2. "Qualified Indiana Business" Defined

Sec. 2. As used in this chapter, "qualified Indiana business" means an independently owned and operated business that is certified as a qualified Indiana business by the Indiana economic development corporation under section 7 of this chapter.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.4-2005, SEC.96.
IN Code § 6-3.1-24-2.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-2.5. "Qualified Indiana Investment Fund"

Effective 1-1-2022.Sec. 2.5. As used in this chapter, "qualified Indiana investment fund" means any private fund that meets the definition of a venture capital fund in 17 CFR 275.203(l)-1 and that is certified by the Indiana economic development corporation as provided in section 7.5 of this chapter.As added by P.L.165-2021, SEC.76.
IN Code § 6-3.1-24-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-3. "Qualified Investment Capital" Defined

     Note: This version of section effective until 1-1-2022. See also following version of this section, effective 1-1-2022.Sec. 3. As used in this chapter, "qualified investment capital" means debt or equity capital that is provided to a qualified Indiana business after December 31, 2003. However, the term does not include debt that:(1) is provided by a financial institution (as defined in IC 5-13-4-10) after May 15, 2005; and(2) is secured by a valid mortgage, security agreement, or other agreement or document that establishes a collateral or security position for the financial institution that is senior to all collateral or security interests of other taxpayers that provide debt or equity capital to the qualified Indiana business.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.193-2005, SEC.16.
IN Code § 6-3.1-24-3-b (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-3-b. "Qualified Investment Capital" Defined

     Note: This version of section effective 1-1-2022. See also preceding version of this section, effective until 1-1-2022.Sec. 3. As used in this chapter, "qualified investment capital" means debt or equity capital that is provided to a qualified Indiana business or a qualified Indiana investment fund after December 31, 2003. However, the term does not include debt that:(1) is provided by a financial institution (as defined in IC 5-13-4-10) after May 15, 2005; and(2) is secured by a valid mortgage, security agreement, or other agreement or document that establishes a collateral or security position for the financial institution that is senior to all collateral or security interests of other taxpayers that provide debt or equity capital to the qualified Indiana business.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.193-2005, SEC.16; P.L.165-2021, SEC.77.
IN Code § 6-3.1-24-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-4. "State Tax Liability" Defined

Sec. 4. As used in this chapter, "state tax liability" means a taxpayer's total tax liability that is incurred under:(1) IC 6-2.5 (state gross retail and use tax);(2) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);(3) IC 6-5.5 (the financial institutions tax); and(4) IC 27-1-18-2 (the insurance premiums tax) or IC 6-8-15 (the nonprofit agricultural organization health coverage 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.192-2002(ss), SEC.119. Amended by P.L.154-2020, SEC.18.
IN Code § 6-3.1-24-4.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-4.5. "Substantial Presence"

Effective 1-1-2022.Sec. 4.5. (a) As used in this chapter, "substantial presence" means:(1) maintaining a company headquarters in Indiana; or(2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:(1) its headquarters; or(2) seventy-five percent (75%) of its total payroll;to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.As added by P.L.165-2021, SEC.78.
IN Code § 6-3.1-24-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-5. "Taxpayer" Defined

Sec. 5. As used in this chapter, "taxpayer" means an individual or entity, including a pass through entity, that has any state tax liability.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.1.
IN Code § 6-3.1-24-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-6. Credit; Eligibility

     Note: This version of section effective until 1-1-2022. See also following version of this section, effective 1-1-2022.Sec. 6. A taxpayer that:(1) provides qualified investment capital to a qualified Indiana business; and(2) fulfills the requirements of the Indiana economic development corporation under section 12.5 of this chapter;is entitled to a credit against the person's state tax liability in a taxable year equal to the amount specified in section 10 of this chapter.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.2; P.L.4-2005, SEC.97.
IN Code § 6-3.1-24-6-b (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-6-b. Credit; Eligibility

     Note: This version of section effective 1-1-2022. See also preceding version of this section, effective until 1-1-2022.Sec. 6. A taxpayer that:(1) provides qualified investment capital to a qualified Indiana business or a qualified Indiana investment fund; and(2) fulfills the requirements of the Indiana economic development corporation under section 12.5 of this chapter;is entitled to a credit against the taxpayer's state tax liability in a taxable year equal to the amount specified in section 8 or 8.5 of this chapter, whichever is applicable.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.2; P.L.4-2005, SEC.97; P.L.165-2021, SEC.79.
IN Code § 6-3.1-24-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-7. Certification of Qualified Indiana Business; Forms; Fee

Sec. 7. (a) The Indiana economic development corporation shall certify that a business is a qualified Indiana business if the corporation determines that the business:(1) has its headquarters in Indiana;(2) is primarily focused on professional motor vehicle racing, commercialization of research and development, technology transfers, or the application of new technology, or is determined by the Indiana economic development corporation to have significant potential to:(A) bring substantial capital into Indiana;(B) create jobs;(C) diversify the business base of Indiana; or(D) significantly promote the purposes of this chapter in any other way;(3) has had average annual revenues of less than ten million dollars ($10,000,000) in the two (2) years preceding the year in which the business received qualified investment capital from a taxpayer claiming a credit under this chapter;(4) has:(A) at least fifty percent (50%) of its employees residing in Indiana; or(B) at least seventy-five percent (75%) of its assets located in Indiana; and(5) is not engaged in a business involving:(A) real estate;(B) real estate development;(C) insurance;(D) professional services provided by an accountant, a lawyer, or a physician;(E) retail sales, except when the primary purpose of the business is the development or support of electronic commerce using the Internet; or(F) oil and gas exploration.(b) A business shall apply to be certified as a qualified Indiana business on a form prescribed by the Indiana economic development corporation.(c) If a business is certified as a qualified Indiana business under this section, the Indiana economic development corporation shall provide a copy of the certification to the investors in the qualified Indiana business for inclusion in tax filings.(d) Except as provided in subsection (e), the Indiana economic development corporation may impose an application fee of not more than two hundred dollars ($200).(e) The Indiana economic development corporation may not impose the application fee authorized by subsection (d) for applications submitted during the period beginning July 1, 2011, and ending June 30, 2013.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.3; P.L.4-2005, SEC.98; P.L.193-2005, SEC.17; P.L.172-2011, SEC.66.
IN Code § 6-3.1-24-7.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-7.5. Certification of Qualified Indiana Investment Fund; Forms

Effective 1-1-2022.Sec. 7.5. (a) The Indiana economic development corporation may certify that an investment fund is a qualified Indiana investment fund if the corporation determines that the fund meets the definition in section 2.5 of this chapter and the requirements in subsection (b).(b) The Indiana economic development corporation may only certify a fund as a qualified Indiana investment fund if the fund makes investments according to a policy that:(1) requires eligible companies to be primarily focused on the commercialization of research and development, technology transfer, or application of new technology; and(2) prioritizes investments in companies that:(A) have received a grant, loan, or other investment funds provided by the Indiana twenty-first century research and technology fund established by IC 5-28-16-2; or(B) maintain a substantial presence in Indiana.(c) An investment fund must apply to be certified as a qualified Indiana investment fund on a form prescribed by the Indiana economic development corporation.(d) If an investment fund is certified as a qualified Indiana investment fund under this section, the Indiana economic development corporation shall provide a copy of the certification to the investors in the qualified Indiana investment fund for inclusion in tax filings.As added by P.L.165-2021, SEC.80.
IN Code § 6-3.1-24-8 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-8. Maximum Allowable Credit; Notice to Investors

     Note: This version of section effective until 1-1-2022. See also following version of this section, effective 1-1-2022.Sec. 8. (a) A certification provided under section 7 of this chapter must include notice to the investors of the maximum amount of tax credits available under this chapter for the provision of qualified investment capital to the qualified Indiana business.(b) For a calendar year ending before January 1, 2011, the maximum amount of tax credits available under this chapter for the provision of qualified investment capital to a particular qualified Indiana business equals the lesser of:(1) the total amount of qualified investment capital provided to the qualified Indiana business in the calendar year, multiplied by twenty percent (20%); or(2) five hundred thousand dollars ($500,000).(c) For a calendar year beginning after December 31, 2010, the maximum amount of tax credits available under this chapter for the provision of qualified investment capital to a particular qualified Indiana business equals the lesser of the following:(1) The total amount of qualified investment capital provided to the qualified Indiana business in the calendar year, multiplied by twenty percent (20%).(2) One million dollars ($1,000,000).As added by P.L.192-2002(ss), SEC.119. Amended by P.L.172-2011, SEC.67.