reglab/housing_qa huggingface dataset:
IN Code § 6-3.1-13-18 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-18. Duration of Credit; Maximum Credit With Respect to Job Creation; Prohibit Computation of Credit

Sec. 18. (a) The corporation shall determine the amount and duration of a tax credit awarded under this chapter. The duration of the credit may not exceed ten (10) taxable years. The credit may be stated as a percentage of the incremental income tax withholdings attributable to the applicant's project and may include a fixed dollar limitation. In the case of a credit awarded for a project to create new jobs in Indiana, the credit amount may not exceed the incremental income tax withholdings. However, the credit amount claimed for a taxable year may exceed the taxpayer's state tax liability for the taxable year, in which case the excess may, at the discretion of the corporation, be refunded to the taxpayer.(b) For state fiscal year 2006 and each state fiscal year thereafter, the aggregate amount of credits awarded under this chapter for projects to retain existing jobs in Indiana may not exceed ten million dollars ($10,000,000) per year.(c) This subsection does not apply to a business that was enrolled and participated in the E-Verify program (as defined in IC 22-5-1.7-3) during the time the taxpayer conducted business in Indiana in the taxable year. A credit under this chapter may not be computed on any amount withheld from an individual or paid to an individual for services provided in Indiana as an employee, if the individual was, during the period of service, prohibited from being hired as an employee under 8 U.S.C. 1324a.As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002, SEC.47; P.L.4-2005, SEC.75; P.L.197-2005, SEC.7; P.L.137-2006, SEC.5; P.L.171-2011, SEC.6; P.L.213-2015, SEC.84; P.L.86-2018, SEC.73.
IN Code § 6-3.1-13-19 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-19. Agreement for Tax Credit With Respect to Job Creation; Requirements

Sec. 19. In the case of a credit awarded for a project to create new jobs in Indiana, the corporation shall enter into an agreement with an applicant that is awarded a credit under this chapter. The agreement must include all of the following:(1) A detailed description of the project that is the subject of the agreement.(2) The duration of the tax credit and the first taxable year for which the credit may be claimed.(3) The credit amount that will be allowed for each taxable year.(4) A requirement that the taxpayer shall maintain operations at the project location for at least two (2) years following the last taxable year in which the applicant claims the tax credit or carries over an unused part of the tax credit under section 18 of this chapter. A taxpayer is subject to an assessment under section 22 of this chapter for noncompliance with the requirement described in this subdivision.(5) A specific method for determining the number of new employees employed during a taxable year who are performing jobs not previously performed by an employee.(6) A requirement that the taxpayer shall annually report to the corporation the number of new employees who are performing jobs not previously performed by an employee, the new income tax revenue withheld in connection with the new employees, and any other information the corporation needs to perform the corporation's duties under this chapter.(7) A requirement that the corporation is authorized to verify with the appropriate state agencies the amounts reported under subdivision (6), and after doing so shall issue a certificate to the taxpayer stating that the amounts have been verified.(8) A requirement that the taxpayer shall provide written notification to the corporation not more than thirty (30) days after the taxpayer makes or receives a proposal that would transfer the taxpayer's state tax liability obligations to a successor taxpayer.(9) Any other performance conditions that the corporation determines are appropriate.As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002, SEC.48; P.L.4-2005, SEC.76; P.L.197-2005, SEC.8; P.L.145-2016, SEC.25.
IN Code § 6-3.1-13-19.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-19.5. Agreement for Tax Credit With Respect to Job Retention; Requirements

Sec. 19.5. (a) In the case of a credit awarded for a project to retain existing jobs in Indiana, the corporation shall enter into an agreement with an applicant that is awarded a credit under this chapter. The agreement must include all of the following:(1) A detailed description of the business that is the subject of the agreement.(2) The duration of the tax credit and the first taxable year for which the credit may be claimed.(3) The credit amount that will be allowed for each taxable year.(4) A requirement that the applicant shall maintain operations at the project location for at least two (2) years following the last taxable year in which the applicant claims the tax credit or carries over an unused part of the tax credit under section 18 of this chapter. An applicant is subject to an assessment under section 22 of this chapter for noncompliance with the requirement described in this subdivision.(5) A requirement that the applicant shall annually report the following to the corporation:(A) The number of employees who are employed in Indiana by the applicant.(B) The compensation (including benefits) paid to the applicant's employees in Indiana.(C) The amount of the:(i) facility improvements;(ii) equipment and machinery upgrades, repairs, or retrofits; or(iii) other direct business related investments, including training.(6) A requirement that the applicant shall provide written notification to the corporation not more than thirty (30) days after the applicant makes or receives a proposal that would transfer the applicant's state tax liability obligations to a successor taxpayer.(7) Any other performance conditions that the corporation determines are appropriate.(b) An agreement between an applicant and the corporation must be submitted to the budget committee for review and must be approved by the budget agency before an applicant is awarded a credit under this chapter for a project to retain existing jobs in Indiana.As added by P.L.178-2002, SEC.49. Amended by P.L.4-2005, SEC.77; P.L.197-2005, SEC.9; P.L.145-2016, SEC.26.
IN Code § 6-3.1-13-20 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-20. Claiming Credit; Submission of Required Information to Department of State Revenue

Sec. 20. A taxpayer claiming a credit under this chapter 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 all information that the department determines necessary for the calculation of the credit provided by this chapter and the determination of whether the credit was properly claimed.As added by P.L.41-1994, SEC.1. Amended by P.L.4-2005, SEC.78.
IN Code § 6-3.1-13-21 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-21. Pass Through Entity; Calculation of Tax Credit; Shareholder or Partner Claiming Credit; Refundable Credits

Sec. 21. (a) If a pass through entity does not have state income tax liability against which the tax credit may be applied, a shareholder or partner 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 or partner is entitled.(b) The credit provided under subsection (a) is in addition to a tax credit to which a shareholder or partner of a pass through entity is otherwise entitled under a separate agreement under this chapter. A pass through entity and a shareholder or partner of the pass through entity may not claim more than one (1) credit under the same agreement.(c) Subsection (d) applies:(1) only to a pass through entity that is a limited liability company or a limited liability partnership owned wholly or in part by an electric cooperative incorporated under IC 8-1-13; and(2) if, at the request of the pass through entity, the corporation finds that the amount of the average wage to be paid by the pass through entity will be at least double the average wage paid:(A) in the county in which the project will be located, in the case of an application submitted before January 1, 2006; or(B) in the case of an application submitted after December 31, 2005:(i) to all employees working in the same NAICS industry sector to which the applicant's business belongs in the county in which the applicant's business is located, if there is more than one (1) business in that NAICS industry sector in the county in which the applicant's business is located;(ii) to all employees working in the same NAICS industry sector to which the applicant's business belongs in Indiana, if the applicant's business is the only business in that NAICS industry sector in the county in which the applicant's business is located but there is more than one (1) business in that NAICS industry sector in Indiana; or(iii) to all employees working in the same county as the county in which the applicant's business is located, if there is no other business in Indiana in the same NAICS industry sector to which the applicant's business belongs.(d) The corporation may determine that:(1) a credit shall be claimed by the pass through entity described in subsection (c); and(2) if the credit exceeds the pass through entity's state income tax liability for the taxable year, the excess shall be refunded to the pass through entity.If the corporation grants a refund directly to a pass through entity under this subsection, the pass through entity shall claim the refund on forms prescribed by the department of state revenue.As added by P.L.41-1994, SEC.1. Amended by P.L.81-2004, SEC.14; P.L.4-2005, SEC.79; P.L.197-2005, SEC.10.
IN Code § 6-3.1-13-22 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-22. Noncompliance With Agreement; Assessments

Sec. 22. If the corporation determines that a taxpayer who 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 all of the provisions of this chapter, the corporation shall, after giving the taxpayer an opportunity to explain the noncompliance:(1) notify the department of state revenue of the noncompliance; and(2) request the department of state revenue 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.As added by P.L.41-1994, SEC.1. Amended by P.L.4-2005, SEC.80; P.L.145-2016, SEC.28.
IN Code § 6-3.1-13-24 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-24. Biennial Evaluation by Indiana Economic Development Corporation

Sec. 24. On a biennial basis, the corporation shall provide for an evaluation of the tax credit program. The evaluation shall include an assessment of the effectiveness of the program in creating new jobs and retaining existing jobs in Indiana and of the revenue impact of the program, and may include a review of the practices and experiences of other states with similar programs. The corporation shall include a report on the evaluation 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.41-1994, SEC.1. Amended by P.L.178-2002, SEC.50; P.L.4-2005, SEC.82; P.L.145-2016, SEC.29; P.L.130-2018, SEC.25.
IN Code § 6-3.1-13-25 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-25. Rules Adoption; Fees

Sec. 25. The corporation may adopt rules under IC 4-22-2 necessary to implement this chapter. The rules may provide for recipients of tax credits under this chapter to be charged fees to cover administrative costs of the tax credit program. Fees collected shall be deposited in the economic development for a growing economy fund.As added by P.L.41-1994, SEC.1. Amended by P.L.4-2005, SEC.83.
IN Code § 6-3.1-13-26 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 13. Economic Development for a Growing Economy Tax Credit|6-3.1-13-26. Economic Development for a Growing Economy Fund; Use; Investments; Appropriations

Sec. 26. (a) The economic development for a growing economy fund is established to be used exclusively for the purposes of this chapter and IC 6-3.1-26, including paying for the costs of administering this chapter and IC 6-3.1-26. The fund shall be administered by the corporation.(b) The fund consists of collected fees, appropriations from the general assembly, and gifts and grants to the fund.(c) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund.(d) The money in the fund at the end of a state fiscal year does not revert to the state general fund but remains in the fund to be used exclusively for the purposes of this chapter. Expenditures from the fund are subject to appropriation by the general assembly and approval by the budget agency.As added by P.L.41-1994, SEC.1. Amended by P.L.224-2003, SEC.193; P.L.4-2005, SEC.84.
IN Code § 6-3.1-16.1-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 16.1. Historic Rehabilitation Tax Credit|6-3.1-16.1-1. Authorization to Claim Credit

Sec. 1. (a) For purposes of this section, "department" refers to:(1) the department of natural resources; or(2) the office of community and rural affairs.(b) This section applies notwithstanding:(1) the cap of zero dollars ($0) on the amount of historic rehabilitation tax credits allowed in a state fiscal year beginning after June 30, 2016, as set forth in IC 6-3.1-16-14 (before its expiration); and(2) the expiration of the historic rehabilitation tax credit chapter (IC 6-3.1-16) on January 1, 2019.(c) If a taxpayer was granted a historic rehabilitation tax credit by the department before January 1, 2016, for a qualified expenditure made before June 30, 2016, under IC 6-3.1-16 (before its expiration) for use in a taxable year other than the year in which the preservation or rehabilitation of the historic property was performed and the certification of the credit was provided by the department, the credit described in this subsection may nevertheless be claimed in the subsequent year for which the credit was granted by the department and may be carried forward as set forth in this section.(d) If the credit provided by this section 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 taxable year in which the taxpayer is first entitled to claim the credit under this chapter.(e) 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 (d).(f) A taxpayer is not entitled to any carryback or refund of any unused credit.(g) All of the provisions under IC 6-3.1-16 (before its expiration) shall be considered to be in effect for credits claimed under this chapter, except to the extent expressly inconsistent with this chapter.As added by P.L.146-2020, SEC.28.
IN Code § 6-3.1-18-1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-1. "Community Development Corporation"

Sec. 1. As used in this chapter, "community development corporation" has the meaning set forth in IC 4-4-28-2.As added by P.L.15-1997, SEC.2.
IN Code § 6-3.1-18-2 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-2. "Fund"

Sec. 2. As used in this chapter, "fund" refers to an individual development account fund established by a community development corporation under IC 4-4-28-13.As added by P.L.15-1997, SEC.2.
IN Code § 6-3.1-18-3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-3. "Individual Development Account"

Sec. 3. As used in this chapter, "individual development account" has the meaning set forth in IC 4-4-28-5.As added by P.L.15-1997, SEC.2.
IN Code § 6-3.1-18-4 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-4. "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.15-1997, SEC.2.
IN Code § 6-3.1-18-4.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-4.5. "Qualified Contribution"

Sec. 4.5. As used in this chapter, "qualified contribution" means a contribution to a fund for which a community development corporation has received an allocation of tax credits under IC 4-4-28-13.As added by P.L.50-2016, SEC.10.
IN Code § 6-3.1-18-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-5. "State Tax Liability"

Sec. 5. As used in this chapter, "state tax liability" means a taxpayer's total tax liability incurred under:(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax); and(2) IC 6-5.5 (the financial institutions 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.15-1997, SEC.2. Amended by P.L.192-2002(ss), SEC.111.
IN Code § 6-3.1-18-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-6. Credit; Amount; Calculation; Application

Sec. 6. (a) Subject to the limitations provided in subsection (b) and sections 7, 8, 9, 10, and 11 of this chapter, the department shall grant a tax credit against any state tax liability due equal to fifty percent (50%) of the amount of a qualified contribution made in a taxable year by a person or an individual if the qualified contribution is not less than one hundred dollars ($100) and not more than fifty thousand dollars ($50,000).(b) The credit provided by this chapter shall only be applied against any state tax liability owed by the taxpayer after the application of any credits that under IC 6-3.1-1-2 must be applied before the credit provided by this chapter.As added by P.L.15-1997, SEC.2. Amended by P.L.4-1999, SEC.4; P.L.192-2002(ss), SEC.112; P.L.50-2016, SEC.11.
IN Code § 6-3.1-18-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-7. Application of Tax Credit to Pass Through Entities; Calculation

Sec. 7. 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, 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.As added by P.L.15-1997, SEC.2.
IN Code § 6-3.1-18-8 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-8. Credit Supplement; Other Credits

Sec. 8. The credit provided under section 7 of this chapter is in addition to a tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under IC 6-3, this article, or IC 6-5.5. However, a pass through entity and a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same qualified expenditure.As added by P.L.15-1997, SEC.2. Amended by P.L.1-2003, SEC.38; P.L.269-2003, SEC.10.
IN Code § 6-3.1-18-9 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 18. Individual Development Account Tax Credit|6-3.1-18-9. Application for Tax Credit; Proof of Payment

Sec. 9. (a) A person that or an individual who desires to claim a tax credit as provided in this chapter shall file with the department, in the form approved by the department, an application stating the amount of the qualified contribution that the person or individual proposes to make and the amount sought to be claimed as a credit.(b) The department shall promptly notify an applicant whether, or the extent to which, the tax credit is allowable in the state fiscal year in which the application is filed, as provided in section 6 of this chapter. If the credit is allowable in that state fiscal year, the applicant shall within thirty (30) days after receipt of the notice file with the department a statement, in the form and accompanied by the proof of payment of the qualified contribution as the department may prescribe, setting forth that the amount to be claimed as a credit under this chapter has been paid through a qualified contribution as provided in section 6 of this chapter.(c) The department may disallow any credit claimed under this chapter for which the statement or proof of payment is not filed within the thirty (30) day period.As added by P.L.15-1997, SEC.2. Amended by P.L.50-2016, SEC.12.