reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 17.1. Historic Rehabilitation Tax Credit › 6-3.1-17.1-14. Adoption of Rules

Effective 1-1-2024.
Sec. 14. The department or the office of community and rural affairs may adopt rules under IC 4-22-2 governing this chapter.
As added by P.L.236-2023, SEC.67.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 17.1. Historic Rehabilitation Tax Credit › 6-3.1-17.1-15. Expiration of Chapter

Effective 1-1-2024.
Sec. 15. This chapter expires January 1, 2030.
As added by P.L.236-2023, SEC.67.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 18. Individual Development Account Tax Credit › 6-3.1-18-10. Amount of Tax Credits Allowed

Sec. 10. (a) The amount of tax credits allowed under this chapter may not exceed two hundred thousand dollars ($200,000) in any state fiscal year.
(b) The department shall:
(1) record the time of filing of each application for allowance of a credit required under section 9 of this chapter; and
(2) 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 state fiscal year.
(c) When the total credits approved under this section equal the maximum amount allowable in any state fiscal year, an application filed after that time for the same fiscal year may not be approved. However, if an applicant for whom a credit has been approved fails to file the statement of proof of payment required under section 9 of this chapter, an amount equal to the credit previously allowed or set aside for the applicant may be allowed to any subsequent applicant in the year. In addition, the department may, if the applicant so requests, approve a credit application, in whole or in part, with respect to the next succeeding state fiscal year.
As added by P.L.15-1997, SEC.2. Amended by P.L.289-2001, SEC.14.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 18. Individual Development Account Tax Credit › 6-3.1-18-11. Tax Credit Available Only in Year Paid

Sec. 11. 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.
As added by P.L.15-1997, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-1. "State and Local Tax Liability"

Sec. 1. As used in this chapter, "state and local 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);
(2) IC 6-3.6 (local income tax);
(3) IC 6-5.5 (the financial institutions tax); and
(4) IC 27-1-18-2 (the insurance premiums tax) or IC 6-8-15 (the nonprofit agricultural organization health coverage tax);
as computed after the application of 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.125-1998, SEC.3. Amended by P.L.192-2002(ss), SEC.113; P.L.197-2016, SEC.30; P.L.154-2020, SEC.17.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-1.5. "Pass Through Entity"

Sec. 1.5. 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.224-2003, SEC.194.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-2. "Qualified Investment"

Sec. 2. (a) As used in this chapter, "qualified investment" means the amount of a taxpayer's expenditures that is:
(1) for redevelopment or rehabilitation of property located within a community revitalization enhancement district designated under IC 36-7-13;
(2) made under a plan adopted by an advisory commission on industrial development under IC 36-7-13; and
(3) approved by the Indiana economic development corporation before the expenditure is made.
Beginning after December 31, 2015, the term does not include a taxpayer's expenditures made on property that is classified as residential for property tax purposes, except for expenditures that were approved by the Indiana economic development corporation before January 1, 2016.
(b) Notwithstanding subsection (a)(1), expenditures for the redevelopment or rehabilitation of property that are made after the expiration of the community revitalization district designated under IC 36-7-13 may still be considered a qualified investment if:
(1) subsection (a)(2) and (a)(3) are satisfied;
(2) the Indiana economic development corporation approves the taxpayer's application for a credit before the expiration of the community revitalization enhancement district; and
(3) the taxpayer enters into an agreement with the Indiana economic development corporation not later than one (1) year after the expiration of the community revitalization enhancement district.
As added by P.L.125-1998, SEC.3. Amended by P.L.4-2005, SEC.94; P.L.250-2015, SEC.28; P.L.158-2019, SEC.12.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-2.5. "Taxpayer"

Sec. 2.5. As used in this chapter, "taxpayer" means an individual or entity that has any state and local tax liability.
As added by P.L.224-2003, SEC.195.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-3. Entitlement to Credit; Amount; Assignment

Sec. 3. (a) Except as provided in section 5 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state and local tax liability for a taxable year if the taxpayer makes a qualified investment in that year.
(b) The amount of the credit to which a taxpayer is entitled is the qualified investment made by the taxpayer during the taxable year multiplied by twenty-five percent (25%).
(c) A taxpayer may assign any part of the credit to which the taxpayer is entitled under this chapter to a lessee of property redeveloped or rehabilitated under section 2 of this chapter. A credit that is assigned under this subsection remains subject to this chapter.
(d) An assignment under subsection (c) must be in writing and both the taxpayer and the lessee must report the assignment on their state tax return for the year in which the assignment is made, in the manner prescribed by the department. The taxpayer may not receive value in connection with the assignment under subsection (c) that exceeds the value of the part of the credit assigned.
(e) If a pass through entity is entitled to a credit under this chapter but does not have state and local 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.
The credit provided under this subsection 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 an individual who is a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same investment.
(f) A taxpayer that is otherwise entitled to a credit under this chapter for a taxable year may claim the credit regardless of whether any income tax incremental amount or gross retail incremental amount has been:
(1) deposited in the incremental tax financing fund established for the community revitalization enhancement district; or
(2) allocated to the district.
As added by P.L.125-1998, SEC.3. Amended by P.L.224-2003, SEC.196; P.L.81-2004, SEC.29 and P.L.90-2004, SEC.1; P.L.113-2010, SEC.59; P.L.172-2011, SEC.64.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-4. Credit Carryover; Carryback or Refund Unavailable

Sec. 4. If the amount of the credit determined under section 3 of this chapter for a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the immediately 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 taxpayer to obtain a credit under this chapter for any subsequent taxable year. A taxpayer is not entitled to a carryback or refund of any unused credit.
As added by P.L.125-1998, SEC.3.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 19. Community Revitalization Enhancement District Tax Credit › 6-3.1-19-6. Method of Claiming Credit; Submission of Information

Sec. 6. To receive the credit provided by this section, a taxpayer must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department of state revenue. The taxpayer shall submit to the department of state revenue all information that the department determines is necessary for the calculation of the credit provided by this chapter and for the determination of whether an expenditure was for a qualified investment.
As added by P.L.125-1998, SEC.3.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-1. "Indiana Income"

Sec. 1. As used in this chapter, "Indiana income" means the adjusted gross income of an individual taxpayer, and the individual's spouse, if the individual files a joint adjusted gross income tax return.
As added by P.L.151-2001, SEC.5. Amended by P.L.166-2014, SEC.22.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-2. "Homestead"

Sec. 2. As used in this chapter, "homestead" has the meaning set forth in IC 6-1.1-12-37.
As added by P.L.151-2001, SEC.5. Amended by P.L.1-2009, SEC.51.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-3. "State Income Tax Liability"

Sec. 3. As used in this chapter, "state income tax liability" means an individual's adjusted gross income tax liability under IC 6-3.
As added by P.L.151-2001, SEC.5.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-4. Entitlement to Credit

Sec. 4. (a) Except as provided in subsections (b) and (c), an individual is entitled to a credit under this chapter if:
(1) the individual's Indiana income for the taxable year is less than eighteen thousand six hundred dollars ($18,600); and
(2) the individual pays property taxes in the taxable year on a homestead that:
(A) the individual:
(i) owns; or
(ii) is buying under a contract that requires the individual to pay property taxes on the homestead, if the contract or a memorandum of the contract is recorded in the county recorder's office; and
(B) is located in a county having a population of more than four hundred thousand (400,000) and less than seven hundred thousand (700,000).
(b) An individual is not entitled to a credit under this chapter for a taxable year for property taxes paid on the individual's homestead if the individual claims the deduction under IC 6-3-1-3.5(a)(13) for the homestead for that same taxable year.
(c) In the case of a married individual filing a separate return, the income amount in subsection (a) shall be fifty percent (50%) of the amount listed in that subsection.
As added by P.L.151-2001, SEC.5. Amended by P.L.6-2012, SEC.53; P.L.13-2013, SEC.22; P.L.166-2014, SEC.23; P.L.250-2015, SEC.29; P.L.146-2020, SEC.29; P.L.11-2023, SEC.26.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-5. Amount of Credit

Sec. 5. (a) Each year, an individual described in section 4 of this chapter is entitled to a refundable credit against the individual's state income tax liability in the amount determined under this section.
(b) In the case of an individual with Indiana income of less than eighteen thousand dollars ($18,000) for the taxable year, the amount of the credit is equal to the lesser of:
(1) three hundred dollars ($300); or
(2) the amount of property taxes described in section 4(a)(2) of this chapter paid by the individual in the taxable year.
(c) In the case of an individual with Indiana income that is at least eighteen thousand dollars ($18,000) but less than eighteen thousand six hundred dollars ($18,600) for the taxable year, the amount of the credit is equal to the lesser of the following:
(1) An amount determined under the following STEPS:
STEP ONE: Determine the result of:
(i) eighteen thousand six hundred dollars ($18,600); minus
(ii) the individual's Indiana income for the taxable year.
STEP TWO: Determine the result of:
(i) the STEP ONE amount; multiplied by
(ii) five-tenths (0.5).
(2) The amount of property taxes described in section 4(a)(2) of this chapter paid by the individual in the taxable year.
(d) If the amount of the credit under this chapter exceeds the individual's state tax liability for the taxable year, the excess shall be refunded to the taxpayer.
(e) In the case of a married individual filing a separate return, the income and dollar amounts in subsections (b) and (c) shall be fifty percent (50%) of the amounts listed in those subsections.
As added by P.L.151-2001, SEC.5. Amended by P.L.1-2002, SEC.31; P.L.166-2014, SEC.24; P.L.146-2020, SEC.30.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-6. Filing With Department Required

Sec. 6. To obtain the credit provided by this chapter, an individual must file with the department information concerning the property taxes paid on the individual's homestead and any other information required by the department.
As added by P.L.151-2001, SEC.5.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 20. Income Tax Credit for Property Taxes Paid on Homesteads › 6-3.1-20-7. Amount of Credits Determined by Department and Deposited in State General Fund; Transfers to Northwest Indiana Regional Development Authority

Sec. 7. (a) The department shall before July 1 of each year determine the following:
(1) The greater of:
(A) eight million five hundred thousand dollars ($8,500,000); or
(B) the amount of credits allowed under this chapter for taxable years ending before January 1 of the year.
(2) The quotient of:
(A) the amount determined under subdivision (1); divided by
(B) four (4).
(b) Except as provided in subsection (d), one-half (1/2) of the amount determined by the department under subsection (a)(2) shall be:
(1) deducted each quarter from the riverboat supplemental wagering tax revenue otherwise payable to the county under IC 4-33-12-8 and the supplemental distribution otherwise payable to the county under IC 4-33-13-5(f); and
(2) paid instead to the state general fund.
(c) Except as provided in subsection (d), one-sixth (1/6) of the amount determined by the department under subsection (a)(2) shall be:
(1) deducted each quarter from the riverboat supplemental wagering tax revenue otherwise payable under IC 4-33-12-8 and the supplemental distribution otherwise payable under IC 4-33-13-5(f) to each of the following:
(A) The largest city by population located in the county.
(B) The second largest city by population located in the county.
(C) The third largest city by population located in the county; and
(2) paid instead to the state general fund.
(d) If the amount determined by the department under subsection (a)(1)(B) is less than eight million five hundred thousand dollars ($8,500,000), the difference of:
(1) eight million five hundred thousand dollars ($8,500,000); minus
(2) the amount determined by the department under subsection (a)(1)(B);
shall be paid in four (4) equal quarterly payments to the northwest Indiana regional development authority established by IC 36-7.5-2-1 instead of the state general fund. Any amounts paid under this subsection shall be used by the northwest Indiana regional development authority only to establish or improve public mass rail transportation systems in Lake County.
As added by P.L.151-2001, SEC.5. Amended by P.L.178-2002, SEC.51; P.L.166-2014, SEC.25; P.L.192-2015, SEC.4; P.L.255-2015, SEC.59; P.L.204-2016, SEC.26; P.L.108-2019, SEC.122; P.L.293-2019, SEC.44; P.L.156-2020, SEC.24.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 21. Earned Income Tax Credit › 6-3.1-21-6. Credit; Amount; Calculation; Eligible Persons; Determination of Taxpayer's Earned Income; Cost of Living Adjustments Under the Internal Revenue Code

Sec. 6. (a) Except as provided by subsections (b), (d), and (e), an individual who is eligible for an earned income tax credit under Section 32 of the Internal Revenue Code as in effect on January 1, 2023, is eligible for a credit under this chapter equal to ten percent (10%) of the amount of the federal earned income tax credit that the individual:
(1) is eligible to receive in the taxable year; and
(2) claimed for the taxable year;
under Section 32 of the Internal Revenue Code as in effect on January 1, 2023.
(b) In the case of a nonresident taxpayer or a resident taxpayer residing in Indiana for a period of less than the taxpayer's entire taxable year, the amount of the credit is equal to the product of:
(1) the amount determined under subsection (a); multiplied by
(2) the quotient of the taxpayer's income taxable in Indiana divided by the taxpayer's total income.
(c) If the credit amount exceeds the taxpayer's adjusted gross income tax liability for the taxable year, the excess shall be refunded to the taxpayer.
(d) If a taxpayer properly elects to determine the taxpayer's earned income in accordance with the federal Bipartisan Budget Act of 2018 for purposes of the credit under Section 32 of the Internal Revenue Code for a taxable year beginning after December 31, 2016, the election shall be treated as being made for purposes of the credit under this chapter.
(e) The minimum earned income amounts and phaseout threshold amounts for the credit under this section are subject to the same cost of living adjustments provided in the Internal Revenue Code.
As added by P.L.273-1999, SEC.227. Amended by P.L.192-2002(ss), SEC.114; P.L.131-2008, SEC.17; P.L.146-2008, SEC.325; P.L.1-2009, SEC.52; P.L.229-2011, SEC.87; P.L.242-2015, SEC.23; P.L.214-2018(ss), SEC.11; P.L.168-2021, SEC.1; P.L.201-2023, SEC.100.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 21. Earned Income Tax Credit › 6-3.1-21-8. Claim for Credit on Return; Submission of Information

Sec. 8. To obtain a credit under this chapter, a taxpayer must claim the credit 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 of state revenue determines is necessary for the calculation of the credit provided by this chapter.
As added by P.L.273-1999, SEC.227. Amended by P.L.192-2002(ss), SEC.115; P.L.172-2011, SEC.65; P.L.242-2015, SEC.24.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 21. Earned Income Tax Credit › 6-3.1-21-9. Application of Credit to Tanf

Sec. 9. (a) The division of family resources shall apply the refundable portion of the credits provided under this chapter as expenditures toward Indiana's maintenance of effort under the federal Temporary Assistance for Needy Families (TANF) program (45 CFR 265).
(b) The department of state revenue shall collect and provide the data requested by the division of family resources that is necessary to comply with this section.
As added by P.L.273-1999, SEC.227. Amended by P.L.145-2006, SEC.17; P.L.1-2009, SEC.53.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 21. Earned Income Tax Credit › 6-3.1-21-10. Repealed

As added by P.L.273-1999, SEC.227. Amended by P.L.291-2001, SEC.152; P.L.192-2002(ss), SEC.116; P.L.246-2005, SEC.74. Repealed by P.L.146-2008, SEC.817.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-2. "Office"

Sec. 2. As used in this chapter, "office" means the office of community and rural affairs established by IC 4-4-9.7-4.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.27.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-3. "Preservation"

Sec. 3. (a) As used in this chapter, "preservation" means the application of measures to sustain the form, integrity, and material of:
(1) a building or structure; or
(2) the form and vegetative cover of property.
(b) The term includes stabilization work and the maintenance of historic building materials.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-4. "Qualified Expenditures"

Sec. 4. (a) As used in this chapter, "qualified expenditures" means expenditures for preservation or rehabilitation of a structure that enables the structure to be principally used and occupied by the taxpayer as the taxpayer's residence.
(b) The term does not include costs that are incurred to do the following:
(1) Acquire a property or an interest in a property.
(2) Pay taxes due on a property.
(3) Enlarge an existing structure.
(4) Pay realtors' fees associated with a structure or property.
(5) Pay paving and landscaping costs.
(6) Pay sales and marketing costs.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-5. "Rehabilitation"

Sec. 5. As used in this chapter, "rehabilitation" means the process of returning a property to a state of utility through repair or alteration that makes possible an efficient contemporary residential use while preserving the parts or features of the property that are significant to the historical, architectural, or archeological values of the property.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-6. "State Tax Liability"

Sec. 6. As used in this chapter, "state tax liability" means a taxpayer's total tax liability incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax) as computed after the application of all credits that under IC 6-3.1-1-2 are to be applied before the credit provided by this chapter.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-7. "Taxpayer"

Sec. 7. As used in this chapter, "taxpayer" means:
(1) an individual filing a single return; or
(2) a married couple filing a joint return.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-8. Entitlement to Credit

Sec. 8. (a) Subject to section 14 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability in the taxable year in which the taxpayer completes the preservation or rehabilitation of historic property and obtains the certifications required under section 9 of this chapter.
(b) The amount of the credit is equal to twenty percent (20%) of the qualified expenditures that:
(1) the taxpayer makes for the preservation or rehabilitation of historic property; and
(2) are approved by the office.
(c) In the case of a husband and wife who:
(1) own and rehabilitate a historic property jointly; and
(2) file separate tax returns;
the husband and wife may take the credit in equal shares or one (1) spouse may take the whole credit.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.28.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-9. Qualifying Conditions; Assistance to Office by Department of Natural Resources

Sec. 9. (a) A taxpayer qualifies for a credit under section 8 of this chapter if all of the following conditions are met:
(1) The historic property is:
(A) located in Indiana;
(B) at least fifty (50) years old; and
(C) except as provided in section 8(c) of this chapter, owned by the taxpayer.
(2) The office certifies that the historic property is listed in the register of Indiana historic sites and historic structures.
(3) The office certifies that the taxpayer submitted a proposed preservation or rehabilitation plan to the office that complies with the standards of the office.
(4) The office certifies that the preservation or rehabilitation work that is the subject of the credit substantially complies with the proposed plan referred to in subdivision (3).
(5) The preservation or rehabilitation work is completed in not more than:
(A) two (2) years; or
(B) five (5) years if the preservation or rehabilitation plan indicates that the preservation or rehabilitation is initially planned for completion in phases.
The time in which work must be completed begins when the physical work of construction or destruction in preparation for construction begins.
(6) The historic property is principally used and occupied by the taxpayer as the taxpayer's residence.
(7) The qualified expenditures for preservation or rehabilitation of the historic property exceed ten thousand dollars ($10,000).
(b) The division of historic preservation and archaeology of the department of natural resources shall assist the office, as requested and at no expense to the office, in making the certifications under this section.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.29.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-10. Certifications for Rehabilitation Work

Sec. 10. (a) The office shall provide the certifications referred to in section 9(3) and 9(4) of this chapter if a taxpayer's proposed preservation or rehabilitation plan complies with the standards of the office and the taxpayer's preservation or rehabilitation work complies with the plan.
(b) The taxpayer may appeal a final determination by the office under this chapter to the tax court.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.30.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-11. Credit Claimed on Tax Return

Sec. 11. To obtain a credit under this chapter, a taxpayer must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department of state revenue. The taxpayer shall submit to the department of state revenue the certifications by the office required under section 9 of this chapter and all information that the department of state revenue determines is necessary for the calculation of the credit provided by this chapter.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.31.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-12. Reduction of Adjusted Basis

Sec. 12. For purposes of IC 6-3, the adjusted basis of the structure shall be reduced by the amount of a credit granted under this chapter.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-13. Recaptured Credit

Sec. 13. (a) A credit claimed under this chapter shall be recaptured from the taxpayer if:
(1) the property is transferred less than five (5) years after completion of the certified preservation or rehabilitation work; or
(2) less than five (5) years after completion of the certified preservation or rehabilitation, additional modifications to the property are undertaken that do not meet the standards of the office.
(b) If the recapture of a credit is required under this section, an amount equal to the credit recaptured shall be added to the tax liability of the taxpayer for the taxable year during which the credit is recaptured.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.32.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-14. Credit Exceeding Tax Liability

Sec. 14. (a) If the credit provided by this chapter exceeds a taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried over to succeeding taxable years and used as a credit against the tax otherwise due and payable by the taxpayer under IC 6-3 during those taxable years. Each time that the credit is carried over to a succeeding taxable year, the credit is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for fifteen (15) taxable years following the unused credit year.
(b) A credit earned by a taxpayer in a particular taxable year shall be applied against the taxpayer's tax liability for that taxable year before any credit carryover is applied against that liability under subsection (a).
(c) A taxpayer is not entitled to any carryback or refund of any unused credit.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-15. Maximum Credit

Sec. 15. The amount of tax credits allowed under this chapter may not exceed two hundred fifty thousand dollars ($250,000) in a state fiscal year beginning July 1, 2001, or thereafter.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 22. Residential Historic Rehabilitation Credit › 6-3.1-22-16. Adoption of Rules

Sec. 16. The following may adopt rules under IC 4-22-2 to carry out this chapter:
(1) The department of state revenue.
(2) The division.
As added by P.L.129-2001, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-1. "Pass Through Entity" Defined

Sec. 1. As used in this chapter, "pass through entity" means:
(1) a corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2);
(2) a partnership;
(3) a limited liability company; or
(4) a limited liability partnership.
As added by P.L.192-2002(ss), SEC.119.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-2. "Qualified Indiana Business" Defined

Sec. 2. As used in this chapter, "qualified Indiana business" means an independently owned and operated business that is certified as a qualified Indiana business by the Indiana economic development corporation under section 7 of this chapter.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.4-2005, SEC.96.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-2.5. "Qualified Indiana Investment Fund"

Sec. 2.5. As used in this chapter, "qualified Indiana investment fund" means any private fund that meets the definition of a venture capital fund in 17 CFR 275.203(l)-1 and that is certified by the Indiana economic development corporation as provided in section 7.5 of this chapter.
As added by P.L.165-2021, SEC.76.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-3. "Qualified Investment Capital" Defined

Sec. 3. As used in this chapter, "qualified investment capital" means debt or equity capital that is provided to a qualified Indiana business or a qualified Indiana investment fund after December 31, 2003. However, the term does not include debt that:
(1) is provided by a financial institution (as defined in IC 5-13-4-10) after May 15, 2005; and
(2) is secured by a valid mortgage, security agreement, or other agreement or document that establishes a collateral or security position for the financial institution that is senior to all collateral or security interests of other taxpayers that provide debt or equity capital to the qualified Indiana business.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.193-2005, SEC.16; P.L.165-2021, SEC.77.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-4. "State Tax Liability" Defined

Sec. 4. As used in this chapter, "state tax liability" means a taxpayer's total tax liability that is incurred under:
(1) IC 6-2.5 (state gross retail and use tax);
(2) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(3) IC 6-5.5 (the financial institutions tax); and
(4) IC 27-1-18-2 (the insurance premiums tax) or IC 6-8-15 (the nonprofit agricultural organization health coverage tax);
as computed after the application of the credits that under IC 6-3.1-1-2 are to be applied before the credit provided by this chapter.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.154-2020, SEC.18.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-4.5. "Substantial Presence"

Sec. 4.5. (a) As used in this chapter, "substantial presence" means:
(1) maintaining a company headquarters in Indiana; or
(2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.
(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:
(1) its headquarters; or
(2) seventy-five percent (75%) of its total payroll;
to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.
As added by P.L.165-2021, SEC.78.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-5. "Taxpayer" Defined

Sec. 5. As used in this chapter, "taxpayer" means an individual or entity, including a pass through entity, that has any state tax liability.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.1.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-6. Credit; Eligibility

Sec. 6. A taxpayer that:
(1) provides qualified investment capital to a qualified Indiana business or a qualified Indiana investment fund; and
(2) fulfills the requirements of the Indiana economic development corporation under section 12.5 of this chapter;
is entitled to a credit against the taxpayer's state tax liability in a taxable year equal to the amount specified in section 8 or 8.5 of this chapter, whichever is applicable.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.2; P.L.4-2005, SEC.97; P.L.165-2021, SEC.79.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-7. Certification of Qualified Indiana Business; Forms; Fee

Sec. 7. (a) The Indiana economic development corporation shall certify that a business is a qualified Indiana business if the corporation determines that the business:
(1) has its headquarters in Indiana;
(2) is primarily focused on professional motor vehicle racing, commercialization of research and development, technology transfers, or the application of new technology, or is determined by the Indiana economic development corporation to have significant potential to:
(A) bring substantial capital into Indiana;
(B) create jobs;
(C) diversify the business base of Indiana; or
(D) significantly promote the purposes of this chapter in any other way;
(3) has had average annual revenues of less than ten million dollars ($10,000,000) in the two (2) years preceding the year in which the business received qualified investment capital from a taxpayer claiming a credit under this chapter;
(4) has:
(A) at least fifty percent (50%) of its employees residing in Indiana; or
(B) at least seventy-five percent (75%) of its assets located in Indiana; and
(5) is not engaged in a business involving:
(A) real estate;
(B) real estate development;
(C) insurance;
(D) professional services provided by an accountant, a lawyer, or a physician;
(E) retail sales, except when the primary purpose of the business is the development or support of electronic commerce using the Internet; or
(F) oil and gas exploration.
(b) A business shall apply to be certified as a qualified Indiana business on a form prescribed by the Indiana economic development corporation.
(c) If a business is certified as a qualified Indiana business under this section, the Indiana economic development corporation shall provide a copy of the certification to the investors in the qualified Indiana business for inclusion in tax filings.
(d) Except as provided in subsection (e), the Indiana economic development corporation may impose an application fee of not more than two hundred dollars ($200).
(e) The Indiana economic development corporation may not impose the application fee authorized by subsection (d) for applications submitted during the period beginning July 1, 2011, and ending June 30, 2013.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.3; P.L.4-2005, SEC.98; P.L.193-2005, SEC.17; P.L.172-2011, SEC.66.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 24. Venture Capital Investment Tax Credit › 6-3.1-24-7.5. Certification of Qualified Indiana Investment Fund; Forms

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