reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-18. Repayment Provisions

Sec. 18. (a) Except as provided in subsection (b), if the corporation awards a tax credit to a taxpayer under this chapter that exceeds twenty million dollars ($20,000,000), the corporation shall include in an agreement entered into under section 17 of this chapter a provision that requires the taxpayer to repay to the corporation the portion of the credit that exceeds twenty million dollars ($20,000,000) with interest. Notwithstanding the date on which a tax credit is awarded under this chapter, any repayment of any part of a credit awarded under this chapter shall be deposited in the state general fund.
(b) Notwithstanding subsection (a), the corporation may exclude from its agreement entered into under section 17 of this chapter a repayment provision for any portion of the credit if the award is for a qualified redevelopment site subject to a proposal that will result in a qualified investment of at least one hundred million dollars ($100,000,000).
(c) If the corporation enters into an agreement with a taxpayer under section 17 of this chapter that includes a repayment provision under subsection (a), 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.
(d) 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.
(e) The part of any credit that is subject to a repayment provision under this section must be included in the calculation of the aggregate amount of applicable tax credits that the corporation may certify for a state fiscal year under IC 5-28-6-9.
As added by P.L.158-2019, SEC.29. Amended by P.L.135-2022, SEC.17; P.L.201-2023, SEC.102.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles › 6-3.1-34.6-11. Claiming Credit; Pass Through Entity

Sec. 11. (a) If a pass through entity places a qualified vehicle into service but does not have state tax liability against which a tax credit may be applied, a shareholder, partner, or member of the pass through entity may claim a tax credit under this chapter equal to:
(1) the tax credit determined for the pass through entity under this chapter for the taxable year; multiplied by
(2) the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.
(b) The credit provided under subsection (a) is in addition to a tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same qualified vehicle placed into service.
As added by P.L.277-2013, SEC.6.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles › 6-3.1-34.6-12. Procedure to Claim Credit

Sec. 12. (a) To receive a credit under this chapter, a person placing a qualified vehicle into service must:
(1) apply for the department's approval of the tax credit and notify the department of the person's purchase or lease of a qualified vehicle in the manner prescribed by the department;
(2) submit proof of the purchase or lease to the department and file with the department information that the department determines is necessary for the calculation of the credit under this chapter;
(3) attach proof of the department's approval of the tax credit to the person's state tax return or returns; and
(4) claim the approved tax credit on the person's state tax return or returns in the manner prescribed by the department.
(b) The department shall record the time of filing of each application for the department's approval of a tax credit and shall, except as provided in subsection (c), approve granting the credit to the person, if the person otherwise qualifies for a credit under this chapter, in the chronological order in which the application for the department's approval is filed in the year.
(c) If the total credits approved under this section equal the maximum amount allowable in the year, the department may not approve an application for the credit filed later in that year.
As added by P.L.277-2013, SEC.6. Amended by P.L.212-2014, SEC.3.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles › 6-3.1-34.6-13. Credit Carryover; No Carryback or Refund

Sec. 13. (a) If the amount of the credit determined under this chapter for a person in a taxable year exceeds the person's state tax liability for that taxable year, the person may carry over the excess to the following taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the person to obtain a credit under this chapter for any subsequent taxable year. A credit may not be carried forward for more than six (6) taxable years following the taxable year in which the person is first entitled to claim the credit.
(b) A person is not entitled to a carryback or refund of any unused credit.
As added by P.L.277-2013, SEC.6.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles › 6-3.1-34.6-14. Credit Sale, Assignment, or Transfer Prohibited

Sec. 14. A person may not sell, assign, convey, or otherwise transfer the tax credit provided by this chapter.
As added by P.L.277-2013, SEC.6.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-1. Applicability; Applications

Sec. 1. The state tax credit provided by this chapter applies only to taxable years beginning on or after January 1, 2024. However, beginning July 1, 2023:
(1) eligible applicants may submit applications to the authority for state tax credits for qualified projects; and
(2) the authority may evaluate applications and issue eligibility statements;
under section 7 of this chapter.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-2. Definitions

Sec. 2. The following definitions apply throughout this chapter:
(1) "Authority" refers to the Indiana housing and community development authority created by IC 5-20-1-3.
(2) "Eligibility statement" refers to the statement issued by the authority to an eligible applicant under section 7 of this chapter.
(3) "Eligible applicant" means a taxpayer who is:
(A) an owner of a qualified project; or
(B) a shareholder, member, or partner of an owner of a qualified project that is designated by the owner in the manner prescribed by the authority.
(4) "Federal tax credit" means a federal low income housing credit under Section 42 of the Internal Revenue Code that is a thirty percent (30%) present value credit. The term does not include a seventy percent (70%) present value credit under Section 42 of the Internal Revenue Code for certain new buildings.
(5) "Holder of a state tax credit" for a taxable year in a qualified project's state tax credit period means:
(A) the eligible applicant for the qualified project;
(B) a shareholder, member, or partner of the owner of the qualified project; or
(C) a successor, assignee, or transferee of the eligible applicant under section 6 of this chapter;
that has a right to claim all or part of the tax credit for the taxable year.
(6) "Qualified basis" of a qualified project has the meaning set forth in Section 42 of the Internal Revenue Code.
(7) "Qualified project" means a qualified low income building (as defined in Section 42(c) of the Internal Revenue Code):
(A) that is located in Indiana;
(B) for which a federal affordable housing tax credit was awarded using a thirty percent (30%) present value of the qualified basis of the building; and
(C) that is financed by tax exempt bonds that are subject to the private activity bond volume cap (under Section 42(h)(4) of the Internal Revenue Code).
(8) "State tax credit" means the tax credit provided by this chapter.
(9) "State tax credit period" for a qualified project means the period of five (5) taxable years beginning with the taxable year a building in the project is placed into service.
(10) "State tax liability" means a taxpayer's total tax liability incurred under:
(A) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(B) IC 6-5.5 (the financial institutions tax);
(C) IC 27-1-18-2 (the insurance premiums tax); and
(D) IC 27-1-20-12 (the insurance premiums retaliatory 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.
(11) "Tax credit application" means an application submitted by an eligible applicant to the authority under section 7 of this chapter.
(12) "Taxpayer" means an individual, a corporation, an S corporation, a partnership, a limited partnership, a limited liability partnership, a limited liability company, or a joint venture.
As added by P.L.137-2022, SEC.52. Amended by P.L.194-2023, SEC.22.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-3. Amount of Credit; Computation

Sec. 3. (a) Except as otherwise provided in this chapter, for each taxable year in the state tax credit period of a qualified project, the holder of a state tax credit awarded under this chapter for the qualified project is entitled to a credit against the holder's state tax liability for the taxable year in an amount equal to:
(1) the percentage of the state tax credit for the taxable year that the holder retains at the end of the last day of the taxable year, as determined under subsection (c); multiplied by
(2) the amount of the state tax credit for the qualified project for the taxable year, as determined under subsections (d) and (e).
(b) At the time an eligibility statement is issued to an eligible applicant, the eligible applicant is considered to have acquired one hundred percent (100%) of the state tax credit for each taxable year in the state tax credit period of the qualified project.
(c) The percentage of a state tax credit for a taxable year that a holder retains at the end of the last day of a taxable year under subsection (a)(1) is equal to:
(1) the sum of the percentages of the state tax credit for the taxable year that the holder acquires before the end of the last day of the taxable year; minus
(2) the sum of the percentages of the state tax credit for the taxable year that the holder transfers before the end of the last day of the taxable year.
(d) The amount of a state tax credit for a taxable year in the state tax credit period of a qualified project under subsection (a)(2) is equal to:
(1) a factor equal to:
(A) one (1); divided by
(B) the number of taxable years in the state tax credit period for the qualified project; multiplied by
(2) the lesser of:
(A) the amount of the total federal credit allowed for the qualified project over the credit period as defined by Section 42(f) of the Internal Revenue Code (based on Internal Revenue Service Form 8609, Line 1(b) (annual amount multiplied by ten (10) years)), if available, for the qualified project; or
(B) the maximum aggregate amount of state tax credits awarded for the qualified project, as stated in the eligibility statement issued under section 7 of this chapter.
(e) The department shall determine the amounts of the state tax credits specified under subsection (d) for each taxable year in the state tax credit period of each qualified project as those amounts are able to be computed and promptly publish the amounts on the department's website to assist holders in claiming the state tax credit provided by this chapter.
As added by P.L.137-2022, SEC.52. Amended by P.L.194-2023, SEC.23.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-4. Credit Carryover

Sec. 4. (a) If a holder's state tax credit exceeds the holder's state tax liability for the taxable year, the excess may be carried forward for up to nine (9) consecutive taxable years immediately following the first taxable year of the holder's state tax credit period and may be used to reduce the holder's state tax liability during those taxable years. Only the unused part of a state tax credit may be carried forward and used in a subsequent taxable year.
(b) The holder of a state tax credit is not entitled to a carryback or refund of any unused credit.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-5. Allocation of the Credit by Pass Through Entities That Do Not Have State Tax Liability

Sec. 5. (a) If a pass through entity is entitled to a state tax credit but does not have state tax liability against which the state tax credit may be applied, the pass through entity may allocate or otherwise transfer the state tax credit among the shareholders, members, or partners of the pass through entity in any manner agreed to by the shareholders, members, or partners, regardless of how the federal tax credit for the qualified project is allocated or transferred or whether the allocation or transfer of the state tax credit under the agreement has substantial economic effect under Section 704(b) of the Internal Revenue Code. A pass through entity or its designee shall certify to the department the amount of the state tax credit that is allocated or transferred to each shareholder, member, or partner of the pass through entity for the taxable year, if any, in the manner prescribed by the department.
(b) The credit provided under subsection (a) is in addition to a state tax credit to which a shareholder, member, or partner of a pass through entity is otherwise entitled under this chapter.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-6. Credit Assignment

Sec. 6. (a) A holder of a state tax credit may transfer, sell, or assign all or part of a state tax credit for a taxable year in the state tax credit period of the associated qualified project if the holder of the state tax credit complies with this section.
(b) A holder shall furnish the following to the transferee, purchaser, or assignee:
(1) A copy of the eligibility statement for the qualified project.
(2) A declaration, on a form prescribed by the department, that states:
(A) the percentage of the state tax credit for the taxable year that was held by the transferor before the transfer;
(B) the percentage of the state tax credit for the taxable year that will be held by the transferor after the transfer;
(C) the percentage of the state tax credit for the taxable year that will be held by the transferee after the transfer; and
(D) any other information required by the department.
The percentage specified in clause (A) must equal the sum of the percentages specified in clauses (B) and (C).
(3) Copies of other documents in the possession of the transferor that relate to the transferor's right to claim the state tax credit provided by this chapter, if any.
(c) A transferor of all or part of a state tax credit for a taxable year under this section shall report the transaction to the department in the manner prescribed by the department.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-7. Requirements to Be Awarded a Credit; Maximum Amount of Credits

Sec. 7. (a) An eligible applicant who wishes to obtain the state tax credit provided by this chapter for a qualified project must submit an application to the authority after June 30, 2023, and before January 1, 2028, in the manner prescribed by the authority.
(b) An application submitted under subsection (a) must include:
(1) the name and address of the qualified project;
(2) the name and address of the owner of the qualified project; and
(3) any other information required by the authority.
(c) Subject to section 8 of this chapter, the authority may approve a tax credit application if:
(1) the applicant is an eligible applicant;
(2) the project identified in the application is a qualified project; and
(3) the tax credit application meets any other requirements for receipt of state tax credits established by the authority.
(d) If the authority approves a tax credit application for a qualified project, for each taxable year in the tax credit period the authority may approve a maximum amount of state tax credits. The maximum aggregate amount of state tax credits awarded by the authority for the state tax credit period of a qualified project is an amount that is the product of:
(1) a percentage determined by the authority, which must be less than or equal to one hundred percent (100%); multiplied by
(2) the anticipated aggregate federal tax credits over the credit period as defined by Section 42(f) of the Internal Revenue Code and specified in a letter issued by the authority for the qualified project under Section 42(m) of the Internal Revenue Code (annual amount multiplied by ten (10) years).
(e) If the authority approves a tax credit application for a qualified project, the authority shall issue an eligibility statement to the eligible applicant. The eligibility statement must specify at least the following:
(1) A unique identification code for the eligibility statement, determined by the authority.
(2) The name of the qualified project.
(3) For each taxable year in the state tax credit period of the qualified project, the maximum amount of state tax credit that the authority is awarding to the eligible applicant for the qualified project.
(f) The authority shall transmit a copy of each eligibility statement issued under subsection (e) to the department.
As added by P.L.137-2022, SEC.52. Amended by P.L.194-2023, SEC.24.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-8. Annual Aggregate Credit Limit

Sec. 8. (a) For each state fiscal year beginning after June 30, 2023, and before July 1, 2028, the aggregate amount of state tax credits awarded by the authority under this chapter may not exceed thirty million dollars ($30,000,000). For purposes of calculating the aggregate state tax credit limit for a state fiscal year, the amounts awarded by the authority are considered to be awarded in the year the award is made to the state tax credit recipient by the authority, notwithstanding the fact that the awarded state tax credit is to be claimed over the state tax credit period.
(b) To the extent that the tax credit applications requesting state tax credits exceed the amount of available state tax credits in a year, or the authority reasonably anticipates that the requests will exceed the state fiscal year limitation established in subsection (a), the authority may allocate the state tax credits in a manner that furthers the mission and purpose of the authority and otherwise promotes the establishment of qualified projects.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-9. Procedures to Claim a Credit

Sec. 9. To receive the state tax credit provided by this chapter, a holder of a state tax credit must claim the credit on the holder's annual state tax return in the manner prescribed by the department. The holder of the state tax credit shall submit to the department all information that the department determines is necessary for the calculation of the state tax credit.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35. Affordable and Workforce Housing Tax Credit › 6-3.1-35-11. Evaluation of the Effectiveness of the Credit

Sec. 11. This chapter is subject to review under IC 2-5-3.2-1 to evaluate the effectiveness of the state tax credit one (1) year prior to its expiration under section 12 of this chapter.
As added by P.L.137-2022, SEC.52.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-1. Definitions

Sec. 1. (a) As used in this chapter, "foster care" means living in a place licensed under IC 31-27.
(b) As used in this chapter, "person" means an individual, a corporation, a limited liability company, a partnership, or another legal entity.
(c) As used in this chapter, "qualifying contribution" means a monetary payment made by a person to the insuring foster youth trust fund established by IC 31-26-4.5-4.
(d) As used in this chapter, "qualifying foster care organization" means an organization that meets the following qualifications:
(1) The organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code.
(2) The organization provides:
(A) foster care prevention services and programs as required by 42 U.S.C. 671; or
(B) direct assistance to individuals in the foster care system.
(3) The organization spends at least fifty percent (50%) of its available revenue on qualified services to Indiana residents.
(4) The organization affirms that it will continue spending at least fifty percent (50%) of its available revenue on qualified services to Indiana residents.
(5) The organization provides ongoing qualified services to at least two hundred (200) Indiana residents.
(e) As used in this chapter, "state tax liability" means the taxpayer's total tax liability that is incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax); and
(2) IC 6-5.5 (the financial institutions tax);
as computed after the application of the credits that, under IC 6-3.1-1-2, are to be applied before the credit provided by this chapter.
(f) As used in this chapter, "tax credit" means a deduction from any tax otherwise due under IC 6-3 or IC 6-5.5.
As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.1.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-2. Eligible Persons

Sec. 2. A person who makes a qualifying contribution or makes a monetary contribution to a qualifying foster care organization shall receive a tax credit as provided in section 3 of this chapter.
As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-3. Amount of Credit; Pass Through Entities

Sec. 3. (a) Subject to the limitations provided in subsection (b) and sections 5 and 6 of this chapter, the department shall grant a tax credit against any state tax liability due equal to fifty percent (50%) of a qualifying contribution or of the amount of the monetary contribution by a person to a qualifying foster care organization that is approved by the department of child services under section 4(c) of this chapter.
(b) The tax credit which a taxpayer receives under this chapter may not exceed ten thousand dollars ($10,000) for any taxable year of the taxpayer.
(c) If a person that is:
(1) exempt from adjusted gross income tax (IC 6-3-1 through IC 6-3-7) under IC 6-3-2-2.8(2); or
(2) a partnership;
does not have any tax liability against which the credit provided by this section may be applied, a shareholder or a partner of the business firm is entitled to a credit against the shareholder's or partner's liability under the adjusted gross income tax.
(d) The amount of the tax credit provided by this section under subsection (c) is equal to:
(1) the tax credit determined for the business firm for the taxable year under subsection (a); multiplied by
(2) the percentage of the business firm's distributive income to which the shareholder or the partner is entitled.
The tax credit provided by this section is in addition to any credit to which a shareholder or partner is otherwise entitled under this chapter. However, a business firm and a shareholder or partner of that business firm may not claim a credit under this chapter for the same qualifying contribution or monetary contribution to a qualifying foster care organization.
(e) To apply a credit against the state tax liability of a business firm or person, the business firm or person must claim the credit on the annual state tax return of the business firm or person in the manner prescribed by the department.
As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.3.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-4. Application Process; Proof of Payment; Approval of a Qualified Foster Care Organization

Sec. 4. (a) Any business firm or person that desires to claim a tax credit as provided in this chapter shall file with the department, in the form that the department may prescribe, an application stating the amount of the contribution or investment that it made that would qualify for a tax credit, proof of payment of the contribution, the amount sought to be claimed as a credit, and any other information that the department determines is necessary to determine whether the business firm or person is eligible for the credit.
(b) The department shall notify the applicant not later than forty-five (45) days after the department receives an application for a tax credit under subsection (a) that the applicant has been:
(1) approved for the tax credit; or
(2) denied the tax credit.
(c) An organization must apply to the department of child services for approval as a qualifying foster care organization for purposes of this chapter. The department of child services shall approve each organization applicant that is a qualifying foster care organization as defined in section 1(d) of this chapter and provide a list of each approved organization annually to the department before January 1 of each year.
As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.4.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-5. Annual Aggregate Credit Limit

Sec. 5. (a) The amount of tax credits allowed under this chapter may not exceed two million dollars ($2,000,000) for the period beginning July 1, 2021, through December 31, 2023.
(b) The amount of tax credits allowed under this chapter may not exceed two million dollars ($2,000,000) in each calendar year beginning after December 31, 2023, and ending before January 1, 2028.
(c) The department shall record the time of filing of each application for allowance of a tax credit required under section 4 of this chapter and shall approve the applications, if they otherwise qualify for a tax credit under this chapter, in the chronological order in which the applications are filed in the calendar year.
(d) When the total tax credits approved under this section equal the maximum amount allowable, no application thereafter filed for that calendar year shall be approved.
As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.5.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-6. Unused Credits

Sec. 6. A tax credit shall be allowable under this chapter only for the taxable year of the taxpayer in which the contribution qualifying for the credit is paid. A taxpayer is not entitled to a refund of any unused credit.
As added by P.L.165-2021, SEC.91.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-6.1. Information Posted by the Department

Sec. 6.1. The department shall provide the following information on the department's website:
(1) The application for the tax credit provided in this chapter.
(2) A timeline for receiving the credit provided in this chapter.
(3) The total amount of credits awarded under this chapter during the current calendar year.
As added by P.L.97-2023, SEC.6.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 35.8. Foster Care Support Tax Credit › 6-3.1-35.8-8. Expiration

Sec. 8. This chapter expires January 1, 2028.
As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-1. "Corporation"

Sec. 1. As used in this chapter, "corporation" refers to the Indiana economic development corporation established by IC 5-28-3-1.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-2. "Qualified Applicant"

Sec. 2. As used in this chapter, "qualified applicant" means a person, corporation, limited liability partnership, limited liability company, or other entity that is engaged in the business of making a qualified media production in Indiana.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-3. "Qualified Media Production"

Sec. 3. As used in this chapter, "qualified media production" means:
(1) a feature length film, including an independent or studio production, or a documentary;
(2) a television episodic series, program, or feature;
(3) a music production;
(4) a digital media production that is intended for reasonable commercial exploitation; or
(5) any other similar production as determined by the corporation;
that is produced in Indiana.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-4. "Qualified Production Expenses"

Sec. 4. As used in this chapter, "qualified production expenses" means expenses incurred by a qualified applicant for a qualified media production.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-5. "State Tax Liability"

Sec. 5. As used in this chapter, "state tax liability" means a taxpayer's total tax liability that is 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 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.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-7. Application for Tax Credit; Certification of Eligibility

Sec. 7. (a) A qualified applicant may apply to the corporation for a tax credit under this chapter. The corporation shall prescribe the form and contents of the application.
(b) The corporation shall evaluate an applicant's eligibility for a tax credit under this chapter.
(c) The corporation may certify the eligibility of a taxpayer that meets the requirements for a tax credit under this chapter.
(d) If the corporation certifies a taxpayer under subsection (c), the corporation shall determine the percentage used to calculate the amount of a tax credit under section 8(2) of this chapter.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-8. Determination of Tax Credit Amount

Sec. 8. If the corporation certifies a taxpayer under section 7(c) of this chapter, the taxpayer is entitled to a tax credit under this chapter equal to:
(1) the amount of the taxpayer's qualified production expenses; multiplied by
(2) a percentage determined by the corporation, not to exceed thirty percent (30%).
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-9. Pass Through Entity; Shareholder, Partner, or Member

Sec. 9. If a pass through entity is entitled to a credit under section 8 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, member, or beneficiary 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, member, or beneficiary is entitled.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-10. Claiming of Credit on State Tax Return

Sec. 10. 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.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-11. Credit Carryover

Sec. 11. (a) The amount of the credit provided by this chapter that a taxpayer uses during a particular taxable year may not exceed the state tax liability of the taxpayer.
(b) If the credit provided by this chapter exceeds the taxpayer's state tax liability for the first taxable year containing the taxable year for which the corporation awards the credit, then the excess may be carried over to succeeding taxable years and used as a credit against the state tax liability of the taxpayer during those taxable years.
(c) Each time that the credit is carried over to a succeeding taxable year, it 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 nine (9) taxable years following the first taxable year containing the taxable year for which the corporation awards the credit.
(d) If a taxpayer fails to claim a credit under this chapter for a year in which the taxpayer is otherwise permitted to claim the credit, the credit will be considered to be used for purposes of subsection (c).
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 36. Film and Media Production Tax Credit › 6-3.1-36-12. Credit Subject to Annual Aggregate Credit Limit

Sec. 12. A tax credit awarded under this chapter is subject to the limitations set forth in IC 5-28-6-9.
As added by P.L.135-2022, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 37.2. Mine Reclamation Tax Credit › 6-3.1-37.2-1. "Corporation"

Sec. 1. As used in this chapter, "corporation" refers to the Indiana economic development corporation established by IC 5-28-3 unless the context clearly denotes otherwise.
As added by P.L.214-2023, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 37.2. Mine Reclamation Tax Credit › 6-3.1-37.2-2. "Mine Reclamation Site"

Sec. 2. As used in this chapter, "mine reclamation site" means land that has been mined using surface mining methods or underground mining methods, specifically and primarily for the removal of coal, and land contiguous to such previously mined land.
As added by P.L.214-2023, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 37.2. Mine Reclamation Tax Credit › 6-3.1-37.2-3. "Qualified Investment"

Sec. 3. As used in this chapter, "qualified investment" means the amount of the taxpayer's expenditures for development of property located within a mine reclamation site.
As added by P.L.214-2023, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 37.2. Mine Reclamation Tax Credit › 6-3.1-37.2-4. "State Tax Liability"

Sec. 4. As used in this chapter, "state tax liability" means the taxpayer's total tax liability that is incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(2) IC 27-1-18-2 (the insurance premiums tax); and
(3) IC 6-5.5 (the financial institutions tax);
as computed after the application of the credits that, under IC 6-3.1-1-2, are to be applied before the credit provided by this chapter.
As added by P.L.214-2023, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 37.2. Mine Reclamation Tax Credit › 6-3.1-37.2-5. "Taxpayer"

Sec. 5. As used in this chapter, "taxpayer" means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of a mine reclamation site. The term includes a lessee that is assigned some part of a credit under section 6(c) of this chapter.
As added by P.L.214-2023, SEC.2.