reglab/housing_qa huggingface dataset:
IN Code § 6-3.1-34-11 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-11. Application; Amount of Credit; Pass Through Entity

Sec. 11. (a) A taxpayer may claim a credit against the taxpayer's state tax liability for a taxable year only if the corporation awards a credit to the taxpayer and enters into an agreement with the taxpayer as set forth under this chapter. The corporation may establish an application period for applying for awards. If an application period is established, the corporation shall establish policies and procedures necessary to administer the application period. The corporation may deny an application for a credit under this chapter in its sole discretion. A taxpayer may not seek judicial review of a decision by the corporation to deny a taxpayer's application for a credit.(b) The amount of the credit that a taxpayer may claim is equal to:(1) the qualified investment made by the taxpayer and certified and approved by the corporation in accordance with an agreement entered into under section 17 of this chapter for a taxable year; multiplied by(2) the applicable credit percentage determined by the corporation under section 17(b) and 17(c) of this chapter.(c) If a pass through entity may claim a credit under this section but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, beneficiary, or member of the pass through entity may claim a credit equal to:(1) the credit determined for the pass through entity for the taxable year; multiplied by(2) the percentage of the pass through entity's distributive income that the shareholder, partner, beneficiary, or member may claim.The credit provided under this subsection is in addition to a credit that a shareholder, partner, beneficiary, or member of a pass through entity may claim. However, a pass through entity and a shareholder, partner, beneficiary, or member of a pass through entity may not claim more than one (1) credit for the qualified investment.(d) Notwithstanding subsections (a), (b), and (c), a pass through entity (other than an entity described in IC 6-3-1-35(1)) and its partners, beneficiaries, or members may allocate the credit among its partners, beneficiaries, or members of the pass through entity as provided by written agreement without regard to their sharing of other tax or economic attributes. Such agreements shall be filed with the corporation not later than fifteen (15) days after execution. The pass through entity shall also provide a copy of such agreements, a list of partners, beneficiaries, or members of the pass through entity, and their respective shares of the credit resulting from such agreements in the manner prescribed by the department of state revenue.As added by P.L.158-2019, SEC.29. Amended by P.L.159-2021, SEC.19.
IN Code § 6-3.1-34-12 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-12. Allocation of Credit Against Taxes Owed; Order; Computation

Sec. 12. (a) A tax credit that a taxpayer may claim under this chapter shall be applied against taxes owed by the taxpayer in the following order:(1) First, against the taxpayer's adjusted gross income tax liability (IC 6-3-1 through IC 6-3-7) for the taxable year.(2) Second, against the taxpayer's insurance premiums tax liability (IC 27-1-18-2) or nonprofit agricultural organization health coverage tax liability (IC 6-8-15) for the taxable year.(3) Third, against the taxpayer's financial institutions tax liability (IC 6-5.5) for the taxable year.(b) If the tax paid by the taxpayer under a tax provision listed in subsection (a) is a credit against the liability or a deduction in determining the tax base under another Indiana tax provision, the credit or deduction shall be computed without regard to the credit to which a taxpayer may claim under this chapter.As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.25.
IN Code § 6-3.1-34-13 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-13. Credit Carryover

Sec. 13. (a) If the amount of the credit determined under section 11 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 credit over for a period not to exceed the taxpayer's following nine (9) taxable years, beginning with the taxable year after the year in which the corporation certifies the taxpayer's expenditures as a qualified investment. 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 a refund of any unused credit amount.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34-14 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-14. Credit Assignment

Sec. 14.(a) If a taxpayer is awarded a credit under this chapter before July 1, 2029, 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.(b) 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. A taxpayer may make only one (1) assignment of a credit. 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 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 that part of the credit assigned.(c) The corporation shall collect and compile data on the assignments of tax credits under this chapter and determine the effectiveness of each assignment in getting projects completed. The corporation shall report its findings under this subsection to the legislative council in an electronic format under IC 5-14-6 before November 1, 2022.As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.26.
IN Code § 6-3.1-34-15 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-15. Requirements to Be Awarded a Credit

Sec. 15. To be awarded a credit under this chapter, a taxpayer must file an application with the corporation and enter into an agreement with the corporation as set forth under this chapter.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34-16 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-16. Factors Considered in Determining Whether to Award a Credit

Sec. 16. (a) The corporation shall consider the following factors in deciding whether to award a credit under this chapter for a proposed qualified investment:(1) Evidence that the project aligns with the community's development plans.(2) The economic development potential for the project for which the taxpayer proposes to make the qualified investment.(3) Evidence of barriers preventing the development or redevelopment of the qualified redevelopment site in which the qualified investment is made, such as significant environmental contamination requiring remediation.(4) The level of commitment by the public sector and local government to assist in the financing of improvements or redevelopment activities benefiting the qualified redevelopment site in which the qualified investment is made.(5) Evidence of support by residents, businesses, and private organizations in the surrounding community for the project for which the taxpayer proposes to make the qualified investment.(6) The level of economic distress in the surrounding community and the extent to which the project for which the taxpayer proposes to make the qualified investment mitigates the economic distress.(7) The extent to which the project is estimated to enhance the economic opportunity, health, safety, aesthetics, or amenities of the community in a manner that:(A) improves quality of life factors for residents of the region; and(B) increases the ability of the region to attract and retain a talented workforce.(8) Any other factors as determined by the corporation.(b) The corporation shall not approve an application to receive a tax credit under this chapter for a qualified investment made in a qualified redevelopment site described in section 6(2) of this chapter unless the applicant can provide evidence that the local unit having jurisdiction over the property made a determination that the qualified redevelopment site was unsafe (as defined in IC 36-7-9-4), and the local unit took appropriate steps to remedy the unsafe conditions at the qualified redevelopment site, which led to its demolition.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34-18 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-18. Repayment Provisions; Authority for the Corporation to Enter Into an Agreement With a Local Unit

Sec. 18. (a) Subject to subsection (e), the corporation may, as part of an agreement entered into under section 17 of this chapter:(1) require a taxpayer to repay all or part of a credit awarded under this chapter over a period of years; and(2) limit the maximum amount of a credit awarded to a taxpayer under this chapter that may be claimed during a taxable year.(b) The corporation may elect to enter into an agreement with a local unit that has jurisdiction over the real property that is subject to the proposed qualified investment, through which such agreement the local unit commits local revenue generated by the project to the corporation rather than the corporation including a repayment provision in an agreement with a taxpayer under subsection (a)(1). The total amount of revenue committed under an agreement entered into under this subsection may not exceed the credit repayment amount determined under subsection (a)(1). Any amounts received under an agreement entered into under this subsection shall be deposited in the state general fund.(c) Notwithstanding subsections (a) and (b), if the corporation awards a tax credit to a taxpayer under this chapter that exceeds seven million dollars ($7,000,000), the corporation shall include in an agreement entered into under section 17 of this chapter a provision that requires the taxpayer to repay the portion of the credit that exceeds seven million dollars ($7,000,000).(d) If the corporation enters into an agreement with a taxpayer under section 17 of this chapter that includes a repayment provision under subsection (a)(1) or (c), the corporation shall include in the repayment provision a provision establishing the interest rate that will be applied. The interest rate shall be determined by the board and approved by the budget agency.(e) This subsection applies to an active multi-phased project occurring on a defined footprint for which the taxpayer has received approval for at least the first phase of the active multi-phased project from the corporation's board before July 1, 2018, for a tax credit under IC 6-3.1-11 (industrial recovery tax credit) before its expiration. The following apply to a project described in this subsection:(1) Only qualified investments that are made after June 30, 2021, are eligible for a credit award under this chapter.(2) The annual amount of credits awarded under this chapter for the project may not exceed five million dollars ($5,000,000).(3) The corporation may not include a repayment provision as part of an agreement entered into under section 17 of this chapter for the credits awarded for the project.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34-19 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-19. Procedure to Claim a Credit

Sec. 19. To receive a credit provided by this chapter, a taxpayer must claim the credit on the taxpayer's state tax return or returns in the manner prescribed by the department. The taxpayer shall submit the following to the department:(1) The certification of the corporation stating the applicable credit percentage approved by the corporation under section 17(b) of this chapter.(2) All other information that the department determines is necessary for:(A) the calculation for the credit provided by this chapter; and(B) the determination of whether an expenditure was a qualified investment.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34-20 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-20. Notice of Noncompliance; Assessment

Sec. 20. (a) If the corporation determines that a taxpayer that has claimed a credit under this chapter is not entitled to the credit because of the taxpayer's noncompliance with the requirements of the tax credit agreement or any of the provisions of this chapter, the corporation shall, after giving the taxpayer an opportunity to explain the noncompliance:(1) notify the department of the noncompliance; and(2) request the department to impose an assessment on the taxpayer in an amount that may not exceed the sum of any previously allowed credits under this chapter together with interest and penalties required or permitted by law.(b) If a credit was assigned under section 14 of this chapter, the assessment under this section shall be issued against the taxpayer that could have claimed the credit had no assignment occurred. If an assessment is issued to a taxpayer, other than an assignee of a credit that was assigned, the assessment shall not be offset by any nonrefundable credit. An assessment may not be made against an assignee of a credit except in the case of fraud by the assignee in the assignment of the credit. Notwithstanding the provisions of IC 6-8.1-5-2, an assessment is considered timely if the department issues a proposed assessment:(1) not later than one hundred eighty (180) days from the date the department is notified of the noncompliance; or(2) the date on which the proposed assessment could otherwise be issued in a timely manner under IC 6-8.1-5-2;whichever is later.As added by P.L.158-2019, SEC.29. Amended by P.L.156-2020, SEC.25.
IN Code § 6-3.1-34-21 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-21. Evaluation of the Performance of the Tax Credit Program; Report

Sec. 21. (a) The board shall establish measurements for evaluating the performance of the tax credit program under this chapter.(b) Beginning in 2023, and each odd-numbered year thereafter, the corporation shall provide for an evaluation of the tax credit program. The evaluation shall include an assessment of the effectiveness of the program, and the evaluation shall specifically report on the extent to which the tax credit program met the measurements established by the board under subsection (a). The corporation shall include information received or compiled under this section in the economic incentives and compliance report submitted under IC 5-28-28 for the calendar year in which the evaluation is completed.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34-22 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34. Redevelopment Tax Credit|6-3.1-34-22. Annual Aggregate Credit Limit

Sec. 22. (a) Except as provided in subsection (b), the total amount of credits that the corporation may award under this chapter for a state fiscal year for all taxpayers for all qualified investments is fifty million dollars ($50,000,000). The portion of the credits that is subject to a repayment provision under section 18(b) or 18(c) of this chapter is not included in the calculation of the annual limit.(b) If the corporation determines that a credit should be awarded under this chapter for a taxpayer's qualified investment but the award:(1) will result in the corporation's cumulative credit awards under this chapter for a state fiscal year for all taxpayers for all qualified investments to exceed the limit established by subsection (a); or(2) should not be considered when calculating the corporation's cumulative credit awards under this chapter for a state fiscal year for all taxpayers for all qualified investments;the corporation may, after review by the budget committee, enter into an agreement with the taxpayer under section 17 of this chapter.As added by P.L.158-2019, SEC.29.
IN Code § 6-3.1-34.6-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-1. Applicability

Sec. 1. (a) Subject to subsection (b), this chapter applies to taxable years beginning after December 31, 2012.(b) A person is not entitled to a tax credit for placing a qualified vehicle into service after December 31, 2016. However, this subsection may not be construed to prevent a person from carrying an unused tax credit attributable to a qualified vehicle placed into service before January 1, 2017, forward to a taxable year beginning after December 31, 2016, in the manner provided by section 13 of this chapter.As added by P.L.277-2013, SEC.6. Amended by P.L.213-2015, SEC.87.
IN Code § 6-3.1-34.6-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-2. "Department"

Sec. 2. As used in this chapter, "department" refers to the department of state revenue.As added by P.L.277-2013, SEC.6.
IN Code § 6-3.1-34.6-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-3. "Natural Gas"

Sec. 3. As used in this chapter, "natural gas" means compressed or liquid natural gas.As added by P.L.277-2013, SEC.6.
IN Code § 6-3.1-34.6-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-4. "Pass Through Entity"

Sec. 4. 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.277-2013, SEC.6.
IN Code § 6-3.1-34.6-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-5. "Person"

Sec. 5. As used in this chapter, "person" means an individual, a corporation, a limited liability company, a partnership, or another legal entity.As added by P.L.277-2013, SEC.6.
IN Code § 6-3.1-34.6-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-6. "Qualified Vehicle"

Sec. 6. As used in this chapter, "qualified vehicle" means a natural gas powered vehicle that:(1) has a gross vehicle weight rating of more than thirty-three thousand (33,000) pounds; and(2) is purchased or leased from a dealer located in Indiana.As added by P.L.277-2013, SEC.6. Amended by P.L.212-2014, SEC.1.
IN Code § 6-3.1-34.6-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-7. "State Tax Liability"

Sec. 7. As used in this chapter, "state tax liability" means a person'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 6-5.5 (the financial institutions tax); and(3) IC 27-1-18-2 (the insurance premiums 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.277-2013, SEC.6.
IN Code § 6-3.1-34.6-8 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-8. Credit Claims; Credit Amounts; Claims for Vehicles Placed Into Service in 2013

Sec. 8. (a) Subject to subsection (c), a person that places a qualified vehicle into service in a particular taxable year may claim a credit against the person's state tax liability for that taxable year.(b) Subject to sections 9 and 10 of this chapter, the amount of the credit that may be claimed for placing a qualified vehicle into service is the amount determined in STEP THREE of the following formula:STEP ONE: Determine the difference between:(A) the price of the qualified vehicle; and(B) the price of a similarly equipped vehicle of the same make and model that is powered by a gasoline or diesel engine.STEP TWO: Multiply the STEP ONE result by fifty percent (50%).STEP THREE: Determine the lesser of:(A) the STEP TWO result; or(B) fifteen thousand dollars ($15,000).(c) To the extent that a person claims a credit under this chapter for placing a qualified vehicle into service in 2013, the person may claim such a credit only against any state gross retail tax and use tax liability incurred by the person on transactions occurring after June 30, 2015, that involve a natural gas product (as defined by IC 6-6-2.5-16.5) and that are subject to taxation under IC 6-2.5 because the provisions of IC 6-2.5-5-27(b) exclude those transactions involving a natural gas product from the exemption provided in IC 6-2.5-5-27.As added by P.L.277-2013, SEC.6. Amended by P.L.213-2015, SEC.88.
IN Code § 6-3.1-34.6-9 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-9. Maximum Credit Amount for Vehicles Placed Into Service in Taxable Years Beginning After December 31, 2013

Sec. 9. This section does not apply to a taxable year beginning after December 31, 2012, and before January 1, 2014. The total amount of the tax credits granted to a person under this chapter for a particular taxable year may not exceed one hundred fifty thousand dollars ($150,000).As added by P.L.277-2013, SEC.6. Amended by P.L.213-2015, SEC.89.
IN Code § 6-3.1-34.6-10 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles|6-3.1-34.6-10. Maximum Annual Credit; Maximum Overall Credit

Sec. 10. The total amount of the tax credits granted in a particular year to all persons under this chapter may not exceed the lesser of:(1) three million dollars ($3,000,000) per year; or(2) the revenue, as estimated by the budget agency, that is attributable to the imposition of the gross retail and use tax on transactions involving the purchase of a natural gas product (as defined by IC 6-6-2.5-16.5) to fuel a motor vehicle for the year the credit is claimed.In addition, the tax credits granted for all years to all persons under this chapter may not exceed three (3) times the per year amount under subdivision (1) or (2), whichever applies for a particular year.As added by P.L.277-2013, SEC.6. Amended by P.L.212-2014, SEC.2.