reglab/housing_qa huggingface dataset:
IN Code § 6-3.1-24-8-b (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-8-b. Maximum Allowable Credit; Notice to Investors

     Note: This version of section effective 1-1-2022. See also preceding version of this section, effective until 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, and ending before January 1, 2022, 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).(d) For a calendar year beginning after December 31, 2021, 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-five percent (25%).(2) One million dollars ($1,000,000).(e) Notwithstanding subsection (d), for a calendar year beginning after December 31, 2021, the maximum amount of tax credits available under this chapter for the provision of qualified investment capital to a particular qualified Indiana business, if the qualified Indiana business is a minority business enterprise or a women's business enterprise, 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 thirty percent (30%).(2) One million five hundred thousand dollars ($1,500,000).As added by P.L.192-2002(ss), SEC.119. Amended by P.L.172-2011, SEC.67; P.L.165-2021, SEC.81.
IN Code § 6-3.1-24-8.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-8.5. Maximum Allowable Credit; Qualified Investment Fund; Notice to Investors

Effective 1-1-2022.Sec. 8.5. (a) A certification provided under section 7.5 of this chapter must include notice to investors of the maximum amount of tax credits available under this chapter for the provision of qualified investment capital to the qualified Indiana investment fund.(b) The maximum amount of tax credits available under this chapter for the provision of qualified investment capital to a qualified Indiana investment fund equals the lesser of the following:(1) The total amount of qualified investment capital provided to the qualified Indiana investment fund in the calendar year, multiplied by twenty percent (20%).(2) Five million dollars ($5,000,000).As added by P.L.165-2021, SEC.82.
IN Code § 6-3.1-24-9 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-9. Maximum Annual Statewide Allowance for Credits; Treatment of Credit Carryovers

     Note: This version of section effective until 1-1-2022. See also following repeal of this section, effective 1-1-2022.Sec. 9. The total amount of tax credits that may be approved by the corporation under this chapter in a particular calendar year for qualified investment capital provided during that calendar year may not exceed twelve million five hundred thousand dollars ($12,500,000). An amount of an unused credit carried over by a taxpayer from a previous calendar year may not be considered in determining the amount of proposed investments that the Indiana economic development corporation may certify under this chapter.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.4; P.L.4-2005, SEC.99; P.L.193-2005, SEC.18; P.L.211-2007, SEC.28; P.L.172-2011, SEC.68; P.L.137-2012, SEC.60; P.L.288-2013, SEC.47; P.L.250-2015, SEC.30; P.L.237-2017, SEC.43.
IN Code § 6-3.1-24-10 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-10. Credit; Calculation

     Note: This version of section effective until 1-1-2022. See also following repeal of this section, effective 1-1-2022.Sec. 10. Subject to sections 8 and 13 of this chapter, the amount of the credit to which a taxpayer is entitled under section 6 this chapter equals the product of:(1) twenty percent (20%); multiplied by(2) the amount of the qualified investment capital provided to a qualified Indiana business by the taxpayer in the taxable year.As added by P.L.192-2002(ss), SEC.119.
IN Code § 6-3.1-24-11 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-11. Pass Through Entity; Eligibility of Owners, Shareholders, or Members for Credit

Sec. 11. 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.If any or all of the tax credit is passed through to a shareholder, partner, or member of a pass through entity, the amount of the tax credit that is passed through to a shareholder, partner, or member of a pass through entity may not be applied against the pass through entity's state tax liability, nor may the pass through entity assign any unused credit under section 12(b) of this chapter as effective July 1, 2020.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.158-2019, SEC.13.
IN Code § 6-3.1-24-12 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-12. Carryover of Unused Tax Credit; Assignment of All or Part of the Credit

     Note: This version of section effective until 1-1-2022. See also following version of this section, effective 1-1-2022.Sec. 12. (a) If the amount of the credit determined under section 10 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 five (5) 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. A taxpayer is not entitled to a carryback or a refund of any unused credit amount.(b) If the corporation certifies a credit for an investment that is made after June 30, 2020, and before July 1, 2029, the taxpayer may assign all or part of the credit to which the taxpayer is entitled under this chapter, subject to the limitations set forth in subsection (c).(c) The following apply to the assignment of a credit under this chapter:(1) A taxpayer may not assign all or part of a credit or credits to a particular person in amounts that are less than ten thousand dollars ($10,000).(2) 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.(3) 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.(4) Once a particular credit or credits are assigned, the assignee may not assign all or part of the credit or credits to another person.(5) 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.(d) 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. This subsection expires January 1, 2023.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.5; P.L.193-2005, SEC.19; P.L.158-2019, SEC.14.
IN Code § 6-3.1-24-12-b (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-12-b. Carryover of Unused Tax Credit; Assignment of All or Part of the Credit

     Note: This version of section effective 1-1-2022. See also preceding version of this section, effective until 1-1-2022.Sec. 12. (a) If the amount of the credit determined under section 8 or 8.5 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 five (5) 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. A taxpayer is not entitled to a carryback or a refund of any unused credit amount.(b) If the corporation certifies a credit for an investment that is made after June 30, 2020, and before July 1, 2029, the taxpayer may assign all or part of the credit to which the taxpayer is entitled under this chapter, subject to the limitations set forth in subsection (c).(c) The following apply to the assignment of a credit under this chapter:(1) A taxpayer may not assign all or part of a credit or credits to a particular person in amounts that are less than ten thousand dollars ($10,000).(2) 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.(3) 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.(4) Once a particular credit or credits are assigned, the assignee may not assign all or part of the credit or credits to another person.(5) 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.(d) 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. This subsection expires January 1, 2023.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.5; P.L.193-2005, SEC.19; P.L.158-2019, SEC.14; P.L.165-2021, SEC.85.
IN Code § 6-3.1-24-12.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-12.5. Certification of Investment Plan; Application; Proof of Investment Within Two Years

     Note: This version of section effective until 1-1-2022. See also following version of this section, effective 1-1-2022.Sec. 12.5. (a) A taxpayer wishing to obtain a credit under this chapter must apply to the Indiana economic development corporation for a certification that the taxpayer's proposed investment plan would qualify for a credit under this chapter.(b) The application required under subsection (a) must include:(1) the name and address of the taxpayer;(2) the name and address of each proposed recipient of the taxpayer's proposed investment;(3) the amount of the proposed investment;(4) a copy of the certification issued under section 7 of this chapter that the proposed recipient is a qualified Indiana business; and(5) any other information required by the Indiana economic development corporation.(c) If the Indiana economic development corporation determines that:(1) the proposed investment would qualify the taxpayer for a credit under this chapter; and(2) the amount of the proposed investment would not result in the total amount of tax credits certified for the calendar year exceeding twelve million five hundred thousand dollars ($12,500,000);the corporation shall certify the taxpayer's proposed investment plan.(d) To receive a credit under this chapter, the taxpayer must provide qualified investment capital to a qualified Indiana business according to the taxpayer's certified investment plan within two (2) years after the date on which the Indiana economic development corporation certifies the investment plan.(e) Upon making the investment required under subsection (d), the taxpayer shall provide proof of the investment to the Indiana economic development corporation.(f) Upon receiving proof of a taxpayer's investment under subsection (e), the Indiana economic development corporation shall issue the taxpayer a certificate indicating that the taxpayer has fulfilled the requirements of the corporation and that the taxpayer is entitled to a credit under this chapter.(g) A taxpayer forfeits the right to a tax credit attributable to an investment certified under subsection (c) if the taxpayer fails to make the proposed investment within the period required under subsection (d).As added by P.L.214-2003, SEC.6. Amended by P.L.4-2005, SEC.100; P.L.193-2005, SEC.20.
IN Code § 6-3.1-24-12.5-b (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-12.5-b. Certification of Investment Plan; Application; Proof of Investment Within Two Years

     Note: This version of section effective 1-1-2022. See also preceding version of this section, effective until 1-1-2022.Sec. 12.5. (a) A taxpayer wishing to obtain a credit under this chapter must apply to the Indiana economic development corporation for a certification that the taxpayer's proposed investment plan would qualify for a credit under this chapter.(b) The application required under subsection (a) must include:(1) the name and address of the taxpayer;(2) the name and address of each proposed recipient of the taxpayer's proposed investment;(3) the amount of the proposed investment;(4) a copy of the certification issued under section 7 or 7.5 of this chapter that the proposed recipient is a qualified Indiana business or qualified Indiana investment fund, whichever is applicable; and(5) any other information required by the Indiana economic development corporation.(c) If the Indiana economic development corporation determines that the proposed investment would qualify the taxpayer for a credit under this chapter, the corporation may certify the taxpayer's proposed investment plan.(d) To receive a credit under this chapter, the taxpayer must provide qualified investment capital to a qualified Indiana business or qualified Indiana investment fund, whichever is applicable, according to the taxpayer's certified investment plan within two (2) years after the date on which the Indiana economic development corporation certifies the investment plan.(e) Upon making the investment required under subsection (d), the taxpayer shall provide proof of the investment to the Indiana economic development corporation.(f) Upon receiving proof of a taxpayer's investment under subsection (e), the Indiana economic development corporation shall issue the taxpayer a certificate indicating that the taxpayer has fulfilled the requirements of the corporation and that the taxpayer is entitled to a credit under this chapter.(g) Notwithstanding subsection (f), if a taxpayer is issued a certificate by the Indiana economic development corporation for an investment made in a qualified Indiana investment fund, a taxpayer may not claim the credit as provided in section 13 of this chapter before July 1, 2023.(h) A taxpayer forfeits the right to a tax credit attributable to an investment certified under subsection (c) if the taxpayer fails to make the proposed investment within the period required under subsection (d).As added by P.L.214-2003, SEC.6. Amended by P.L.4-2005, SEC.100; P.L.193-2005, SEC.20; P.L.165-2021, SEC.86.
IN Code § 6-3.1-24-13 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-13. Returns; Submission of Certificates From Indiana Economic Development Corporation

Sec. 13. To receive the 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 to the department, along with the taxpayer's state tax return or returns, a copy of the certificate issued by the Indiana economic development corporation to the taxpayer under section 12.5(f) of this chapter and all information that the department determines is necessary for the calculation of the credit provided by this chapter.As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.7; P.L.4-2005, SEC.101.
IN Code § 6-3.1-24-14 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-14. Tax Credit Not Considered a Security; Issuance or Assignment Not Subject to the Indiana Securities Law

Sec. 14. A certificate or tax credit issued under this chapter or assigned under section 12(b) of this chapter may not be considered to be a security for purposes of IC 23. The issuance or assignment of a certificate or tax credit under this chapter is not subject to the Indiana securities law under IC 23.As added by P.L.106-2014, SEC.1. Amended by P.L.158-2019, SEC.15.
IN Code § 6-3.1-24-15 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 24. Venture Capital Investment Tax Credit|6-3.1-24-15. Maximum Annual Statewide Allowance for Credits

Effective 1-1-2022.Sec. 15. (a) Before January 1, 2022, the total amount of credits that may be awarded by the Indiana economic development corporation under this chapter for investment plans certified as provided in section 12.5 of this chapter that propose investing qualified investment capital in a particular qualified Indiana business during a particular calendar year is twelve million five hundred thousand dollars ($12,500,000).(b) After December 31, 2021, the total amount of credits that may be awarded by the Indiana economic development corporation under this chapter for investment plans certified as provided in section 12.5 of this chapter that propose investing qualified investment capital in a particular qualified Indiana business or qualified Indiana investment fund during a particular calendar year is twenty million dollars ($20,000,000), provided that not more than seven million five hundred thousand dollars ($7,500,000) may be awarded for proposed investments of qualified investment capital in a qualified Indiana investment fund.As added by P.L.165-2021, SEC.87.
IN Code § 6-3.1-26-0.3 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-0.3. Legalization of Actions Taken by Indiana Economic Development Corporation in Administration of Chapter After February 8, 2005, and Before May 11, 2005

Sec. 0.3. The actions taken by the Indiana economic development corporation to administer this chapter, as amended by P.L.4-2005, after February 8, 2005, and before May 11, 2005, are legalized and validated.As added by P.L.220-2011, SEC.142.
IN Code § 6-3.1-26-2.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-2.5. "Corporation"

Sec. 2.5. As used in this chapter, "corporation" means the Indiana economic development corporation established by IC 5-28-3-1.As added by P.L.4-2005, SEC.102.
IN Code § 6-3.1-26-3.1 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-3.1. "Digital Manufacturing Equipment"

Sec. 3.1. As used in this chapter, "digital manufacturing equipment" means any production equipment utilized within an integrated computer network system that provides for the onsite manufacturing of a three-dimensional part or product using material that is joined or solidified using multiple layers under computer control pursuant to a computer aided design for rapid or on demand production.As added by P.L.158-2019, SEC.16.
IN Code § 6-3.1-26-5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-5. "Highly Compensated Employee"

Sec. 5. As used in this chapter, "highly compensated employee" has the meaning set forth in Section 414(q) of the Internal Revenue Code.As added by P.L.224-2003, SEC.197.
IN Code § 6-3.1-26-5.5 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-5.5. "Motion Picture or Audio Production"

Sec. 5.5. As used in this chapter, "motion picture or audio production" means a:(1) feature length film;(2) video;(3) television series;(4) commercial;(5) music video or an audio recording; or(6) corporate production;for any combination of theatrical, television, or other media viewing or as a television pilot. The term does not include a motion picture that is obscene (as described in IC 35-49-2-1) or television coverage of news or athletic events.As added by P.L.199-2005, SEC.18.
IN Code § 6-3.1-26-6 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-6. "New Employee"

Sec. 6. As used in this chapter, "new employee" has the meaning set forth in IC 6-3.1-13-6.As added by P.L.224-2003, SEC.197.
IN Code § 6-3.1-26-7 (2021)
2021 Indiana Code|Title 6. Taxation|Article 3.1. State Tax Liability Credits|Chapter 26. Hoosier Business Investment Tax Credit|6-3.1-26-7. "Pass Through Entity"

Sec. 7. As used in this chapter, "pass through entity" means a:(1) corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2);(2) partnership;(3) trust;(4) limited liability company; or(5) limited liability partnership.As added by P.L.224-2003, SEC.197.