reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 29. Coal Gasification Technology Investment Tax Credit › 6-3.1-29-20.5. Assignability of Credit by Contract

Sec. 20.5. (a) Subject to subsection (c), part or all of the credit to which a taxpayer is entitled under section 15 of this chapter may be assigned by the taxpayer to one (1) or more utilities that have entered into a contract that:
(1) is approved by the Indiana utility regulatory commission;
(2) provides for the purchase of electricity or substitute natural gas (as defined in IC 8-1-2-42.1) by the utility from the taxpayer; and
(3) expressly allows the assignment of tax credits under this section.
A tax credit assigned to a utility under this section must be applied against the utility's state tax liability in the order set forth in section 14(b) of this chapter.
(b) Notwithstanding section 16 of this chapter, any part of a taxpayer's credit under section 15 of this chapter that is assigned by the taxpayer under this section must be taken in twenty (20) annual installments, beginning with the year in which the taxpayer places into service an integrated coal gasification powerplant or a fluidized bed combustion technology.
(c) The part of a taxpayer's credit under section 15 of this chapter that may be assigned by the taxpayer with respect to any one (1) taxable year is subject to the following:
(1) The total amount of the taxpayer's credit under section 15 of this chapter that may be assigned by the taxpayer with respect to the taxable year may not exceed the product of:
(A) the total credit amount to which the taxpayer is entitled under section 15 of this chapter, divided by twenty (20); multiplied by
(B) the percentage of Indiana coal used in the taxpayer's integrated coal gasification powerplant or fluidized bed combustion technology in the taxable year for which the annual installment of the credit is allowed.
(2) The part of the amount determined under subdivision (1) that may be assigned to any one (1) utility with respect to the taxable year may not exceed the greater of:
(A) the utility's total state tax liability for the taxable year, multiplied by twenty-five percent (25%); or
(B) the utility's total utility receipts tax liability for the taxable year.
(d) Any part of the taxpayer's credit under section 15 of this chapter that is assigned to one (1) or more utilities by a taxpayer under this section with respect to a taxable year may not be claimed by the taxpayer or the taxpayer's shareholders, partners, or members. However, any part of the credit to which the taxpayer is entitled under section 15 of this chapter and that is not assigned by the taxpayer with respect to the taxable year may be taken and applied by the taxpayer, or the taxpayer's shareholders, partners, or members, in accordance with sections 16 and 20 of this chapter.
As added by P.L.175-2007, SEC.7.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 29. Coal Gasification Technology Investment Tax Credit › 6-3.1-29-20.7. Findings; Election to Receive Refundable Credit

Sec. 20.7. (a) The findings in IC 4-4-11.6-12 (before its repeal) are incorporated by reference into this section. The general assembly further finds that the refundable credit provided by this section is also necessary to achieve the purposes set forth in IC 4-4-11.6-12 (before its repeal).
(b) This section applies to a taxpayer that:
(1) makes a qualified investment in an integrated coal gasification powerplant; and
(2) entered into a contract to sell substitute natural gas (as defined in IC 4-4-11.6-11) (before its repeal) to the Indiana finance authority under IC 4-4-11.6 (before its repeal).
(c) Notwithstanding anything in this chapter to the contrary, a taxpayer may elect in the manner prescribed by the department to take and receive all credits to which the taxpayer is entitled under section 15 of this chapter (without regard to section 16 of this chapter) as a refundable credit against the taxpayer's state tax liability, if any, over a period of twenty (20) taxable years, beginning not later than the taxable year in which the taxpayer places into service its integrated coal gasification powerplant. If, in a taxable year, a taxpayer that makes an election under this subsection has no state tax liability, the department shall pay to the taxpayer the full amount of the refundable credit for that taxable year.
(d) The amount of a credit to which a taxpayer that makes an election under subsection (c) is entitled for a particular taxable year equals the result determined under STEP FOUR:
STEP ONE: Determine the total credit amount to which the taxpayer is entitled under section 15 of this chapter (without regard to section 16 of this chapter).
STEP TWO: Divide the STEP ONE amount by twenty (20).
STEP THREE: Determine the ratio of Indiana coal to total coal used in the taxpayer's integrated coal gasification powerplant in the taxable year.
STEP FOUR: Multiply the STEP TWO and STEP THREE amounts.
(e) A taxpayer shall claim a refund under this section in the manner provided by the department. The department shall pay the refunded amount to the taxpayer not more than ninety (90) days after the date on which the refund is claimed.
(f) The shareholders, members, or partners of a pass through entity that makes an election under subsection (c) are not entitled to a credit allowed under section 20(b) of this chapter.
(g) A credit allowed under this section is not assignable under section 20.5 of this chapter.
As added by P.L.182-2009(ss), SEC.204. Amended by P.L.189-2018, SEC.59.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 29. Coal Gasification Technology Investment Tax Credit › 6-3.1-29-21. Claiming Tax Credit

Sec. 21. To receive the credit awarded by 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. The taxpayer shall submit to the department a copy of the commission's determination required under section 19 of this chapter, a copy of the taxpayer's certificate of compliance issued under section 19 of this chapter, and all information that the department determines is necessary for the calculation of the credit provided by this chapter.
As added by P.L.191-2005, SEC.15.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-1. "Corporate Headquarters"

Sec. 1. As used in this chapter, "corporate headquarters" means the building or buildings where one (1) or more of the following are located:
(1) The principal offices of the principal executive officers of an eligible business.
(2) The principal offices of a division or similar subdivision of an eligible business.
(3) A research and development center of an eligible business.
As added by P.L.193-2005, SEC.21. Amended by P.L.288-2013, SEC.60.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-1.5. "Corporation"

Sec. 1.5. As used in this chapter, "corporation" refers to the Indiana economic development corporation created under IC 5-28-3 unless the context clearly denotes otherwise.
As added by P.L.288-2013, SEC.61.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-2. "Eligible Business"

Sec. 2. As used in this chapter, "eligible business" means either of the following:
(1) A business that:
(A) is engaged in either interstate or intrastate commerce;
(B) maintains a corporate headquarters at a location outside Indiana;
(C) has not previously maintained a corporate headquarters at a location in Indiana;
(D) had annual worldwide revenues of at least fifty million dollars ($50,000,000) for the taxable year immediately preceding the business's application for a tax credit under section 12 of this chapter; and
(E) commits contractually to relocating its corporate headquarters to Indiana.
(2) A business that:
(A) is engaged in either interstate or intrastate commerce;
(B) maintains a corporate headquarters at a location outside Indiana;
(C) has not previously maintained a corporate headquarters at a location in Indiana;
(D) either:
(i) received at least four million dollars ($4,000,000) in venture capital in the six (6) months immediately preceding the business's application for a tax credit under section 12 of this chapter; or
(ii) closes on at least four million dollars ($4,000,000) in venture capital not later than six (6) months after submitting the business's application for a tax credit under section 12 of this chapter; and
(E) commits contractually to relocating:
(i) its corporate headquarters to Indiana; or
(ii) the number of jobs that equals eighty percent (80%) of the business's total payroll during the immediately preceding quarter to a location in Indiana.
As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.8; P.L.288-2013, SEC.62; P.L.158-2019, SEC.20.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-3. "Pass Through Entity"

Sec. 3. 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.193-2005, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-4. "Qualifying Project"

Sec. 4. As used in this chapter, "qualifying project" means the relocation of the corporate headquarters of an eligible business from a location outside Indiana to a location in Indiana.
As added by P.L.193-2005, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-5. "Relocation Costs"

Sec. 5. As used in this chapter, "relocation costs" means the reasonable and necessary expenses incurred by an eligible business for a qualifying project. The term includes:
(1) moving costs and related expenses;
(2) the purchase of new or replacement equipment;
(3) capital investment costs; and
(4) property assembly and development costs, including:
(A) the purchase, lease, or construction of buildings and land;
(B) infrastructure improvements; and
(C) site development costs.
The term does not include any costs that do not directly result from the relocation of the business to a location in Indiana.
As added by P.L.193-2005, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-6. "State Tax Liability"

Sec. 6. 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);
(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.193-2005, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-7. "Taxpayer"

Sec. 7. As used in this chapter, "taxpayer" means an individual or entity:
(1) that has any state tax liability; or
(2) in the case of an eligible business under section 2(2) of this chapter, that has any state tax liability or that submits incremental income tax withholdings under IC 6-3-4-8.
As added by P.L.193-2005, SEC.21. Amended by P.L.158-2019, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-7.1. "Venture Capital"

Sec. 7.1. As used in this chapter, "venture capital" means financing provided by investors that may include equity, convertible debt, or other forms of equity-like investment instruments.
As added by P.L.158-2019, SEC.22.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-7.5. Duties of the Corporation

Sec. 7.5. The corporation shall do the following:
(1) Evaluate a taxpayer's relocation project for the taxpayer's eligibility for a tax credit under this chapter.
(2) Certify the eligibility of taxpayers that meet the requirements for a tax credit under this chapter.
(3) Determine the percentage used to calculate the amount of a tax credit under section 9 of this chapter.
(4) Certify the information required under section 12 of this chapter.
As added by P.L.288-2013, SEC.63.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-8. Tax Credit

Sec. 8. Subject to entering into an agreement with the corporation under sections 14 and 15 of this chapter, if the corporation certifies that a taxpayer:
(1) is an eligible business;
(2) completes a qualifying project; and
(3) incurs relocation costs;
the taxpayer is entitled to a credit against the taxpayer's state tax liability for the taxable year in which the relocation costs are incurred. The credit allowed under this section is equal to the amount determined under section 9 of this chapter.
As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.9; P.L.1-2007, SEC.58; P.L.288-2013, SEC.64; P.L.158-2019, SEC.23; P.L.135-2022, SEC.12.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-9. Determination of Tax Credit Amount

Sec. 9. (a) Subject to subsection (b), the amount of the credit to which a taxpayer is entitled under section 8 of this chapter equals the product of:
(1) a percentage determined by the corporation that may not exceed fifty percent (50%); multiplied by
(2) the amount of the taxpayer's relocation costs in the taxable year.
(b) The credit to which a taxpayer is entitled under section 8 of this chapter may not reduce the taxpayer's state tax liability below the amount of the taxpayer's state tax liability in the taxable year immediately preceding the taxable year in which the taxpayer first incurred relocation costs. However, this subsection does not apply to a taxpayer that qualifies as an eligible business under section 2(2) of this chapter.
As added by P.L.193-2005, SEC.21. Amended by P.L.288-2013, SEC.65; P.L.158-2019, SEC.24.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-10. Pass Through Entity; Shareholder, Partner, or Member

Sec. 10. 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, 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.193-2005, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-11. Carryover; Unused Tax Credit; Refundable at the Discretion of the Corporation

Sec. 11. (a) If the credit provided by this chapter exceeds the taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried forward to succeeding taxable years and used as a credit against the taxpayer's state tax liability during those taxable years. Each time that the credit is carried forward 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 nine (9) taxable years following the unused credit year.
(b) A taxpayer that qualifies as an eligible business under section 2(1) of this chapter is not entitled to any carryback or refund of any unused credit.
(c) In the case of a taxpayer that qualifies as an eligible business under section 2(2) of this chapter, if the credit provided by this chapter exceeds the taxpayer's state tax liability, the excess may, at the discretion of the corporation, be refunded to the taxpayer. An eligible business under section 2(2) of this chapter is not entitled to carryback any unused credit.
As added by P.L.193-2005, SEC.21. Amended by P.L.158-2019, SEC.25.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-12. Claiming Tax Credit; Returns; Information Required by Department of State Revenue

Sec. 12. To receive the credit provided by this chapter, a taxpayer must claim the credit on the taxpayer's state tax return or returns in the manner prescribed by the department. The taxpayer shall submit to the department the corporation's certification of the following information:
(1) Proof of the taxpayer's relocation costs.
(2) Proof that the taxpayer is employing in Indiana the number of employees required by section 8 of this chapter.
(3) All other information that the department determines is necessary for the calculation of the credit provided by this chapter.
As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.10; P.L.288-2013, SEC.66.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-13. Determination of Expenses Resulting From Relocation

Sec. 13. In determining whether an expense of the eligible business directly resulted from the relocation of the business, the department shall consider whether the expense would likely have been incurred by the eligible business if the business had not relocated from its original location.
As added by P.L.193-2005, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-14. Application; Requirement to Enter Into an Agreement With the Corporation

Sec. 14. (a) To be awarded a credit under this chapter, a taxpayer must submit an application to the corporation and enter into an agreement with the corporation.
(b) The corporation shall prescribe the form of the application.
(c) A taxpayer may claim a credit awarded after June 30, 2019, against the taxpayer's state tax liability for a taxable year only if the corporation awards a credit to the taxpayer and enters into an agreement with the taxpayer under section 15 of this chapter. The corporation may deny an application for a credit under this chapter in its sole discretion. A taxpayer may not seek judicial review of a decision by the corporation to deny a taxpayer's application for a credit.
As added by P.L.158-2019, SEC.26.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-15. Provisions Required in an Agreement

Sec. 15. (a) The corporation shall require the taxpayer to enter into an agreement with the corporation as a condition of receiving a credit under this chapter.
(b) The agreement with the corporation must:
(1) prescribe the method of certifying the taxpayer's qualified investment;
(2) include provisions that authorize the corporation to work with the department and the taxpayer, if the corporation determines that the taxpayer is noncompliant with the terms of the agreement or the provisions of this chapter, to bring the taxpayer into compliance or to protect the interests of the state; and
(3) require the taxpayer to:
(A) maintain its corporate headquarters at a location in Indiana if the business qualifies as an eligible business under section 2(1) of this chapter; or
(B) maintain either:
(i) its corporate headquarters at a location in Indiana if the business qualifies as an eligible business under section 2(2) of this chapter; or
(ii) the number of jobs that equals eighty percent (80%) of the business's total payroll at a location in Indiana if the business qualifies as an eligible business under section 2(2) of this chapter;
for not less than five (5) consecutively succeeding calendar years following the calendar year in which the taxpayer first incurs qualifying relocation expenses.
As added by P.L.158-2019, SEC.27.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30. Headquarters Relocation Tax Credit › 6-3.1-30-16. Noncompliance With Agreement; Assessments

Sec. 16. (a) If the corporation determines that a taxpayer who has claimed a credit under this chapter is not entitled to the credit because of the taxpayer's noncompliance with the requirements of the tax credit agreement or 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) The department shall impose an assessment on a taxpayer if requested by the corporation under subsection (a), unless the assessment is unsupported by law.
(c) 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.28.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-0.5. Severability

Sec. 0.5. Each provision of P.L.92-2011 is presumed to be and is severable from the remainder to the fullest extent and under IC 1-1-1-8. If any phrase, clause, sentence, or provision of IC 6-3.1-30.5 or IC 20-51, as added and amended, is held invalid for any reason, the invalidity does not affect the other provisions that are to be given effect without the invalid provision or application. The general assembly intends each provision to be passed into law individually and as a whole, without any provisions later found to be invalid or otherwise counter to constitutional or other legal requirements.
As added by P.L.63-2012, SEC.6.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-2. "Pass Through Entity"

Sec. 2. As used in this chapter, "pass through entity" has the meaning set forth in IC 6-3-1-35.
As added by P.L.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-3. "Scholarship Granting Organization"

Sec. 3. As used in this chapter, "scholarship granting organization" refers to an organization that:
(1) is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code; and
(2) conducts a school scholarship program without limiting the availability of scholarships to students of only one (1) participating school (as defined in IC 20-51-1-6).
As added by P.L.182-2009(ss), SEC.205. Amended by P.L.92-2011, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-4. "School Scholarship Program"

Sec. 4. As used in this chapter, "school scholarship program" refers to a scholarship program certified by the department of education under IC 20-51.
As added by P.L.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-5. "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);
(2) IC 6-5.5 (the financial institutions tax); and
(3) 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.182-2009(ss), SEC.205. Amended by P.L.154-2020, SEC.20.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-6. "Taxpayer"

Sec. 6. As used in this chapter, "taxpayer" means an individual or entity that has any state tax liability.
As added by P.L.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-7. Credit

Sec. 7. (a) A taxpayer that makes a contribution to a scholarship granting organization for use by the scholarship granting organization in a school scholarship program is entitled to a credit against the taxpayer's state tax liability in the taxable year in which the taxpayer makes the contribution.
(b) A taxpayer is not entitled to a credit under this chapter for a contribution to a scholarship granting organization that is used to provide a scholarship or other assistance to a child participating in the early education grant pilot program under IC 12-17.2-7.2.
As added by P.L.182-2009(ss), SEC.205. Amended by P.L.202-2014, SEC.1.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-8. Amount of Credit

Sec. 8. The amount of a taxpayer's credit is equal to fifty percent (50%) of the amount of the contribution made to the scholarship granting organization for a school scholarship program.
As added by P.L.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-9.5. Unused Credit Carried Forward; Taxable Years Beginning After December 31, 2012

Sec. 9.5. (a) This section applies to a taxpayer that is entitled to a tax credit under this chapter for a taxable year beginning after December 31, 2012.
(b) If the credit provided by this chapter exceeds the taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried forward to succeeding taxable years and used as a credit against the taxpayer's state tax liability during those taxable years. Each time the credit is carried forward to a succeeding taxable year, the credit is 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 unused credit year.
(c) A taxpayer is not entitled to a carryback or refund of any unused credit.
As added by P.L.211-2013, SEC.2.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-10. Pass Through Entities

Sec. 10. If a pass through entity is entitled to a credit under section 7 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.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-11. Claim of Credit; Submission of Information

Sec. 11. To apply a credit against the taxpayer's state tax liability, a taxpayer must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department. The taxpayer shall submit to the department the information that the department determines is necessary for the department to determine whether the taxpayer is eligible for the credit.
As added by P.L.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-12. Use of Contribution

Sec. 12. A contribution to a scholarship granting organization shall be treated as having been made for use in a school scholarship program if:
(1) the contribution is made directly to a scholarship granting organization; and
(2) either:
(A) not later than the date of the contribution, the taxpayer designates in writing to the scholarship granting organization that the contribution is to be used only for a school scholarship program; or
(B) the scholarship granting organization provides the taxpayer with written confirmation that the contribution will be dedicated solely for use in a school scholarship program.
As added by P.L.182-2009(ss), SEC.205. Amended by P.L.92-2011, SEC.3.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-13. Maximum Amount of Credit

Sec. 13. (a) The total amount of tax credits awarded under this chapter may not exceed nine million five hundred thousand dollars ($9,500,000) in the state fiscal year beginning July 1, 2016, and ending June 30, 2017.
(b) The total amount of tax credits awarded under this chapter in a state fiscal year may not exceed the following:
(1) Twelve million five hundred thousand dollars ($12,500,000) for the state fiscal year beginning July 1, 2017, and ending June 30, 2018.
(2) Fourteen million dollars ($14,000,000) for the state fiscal year beginning July 1, 2018, and ending June 30, 2019.
(3) Fifteen million dollars ($15,000,000) for the state fiscal year beginning July 1, 2019, and ending June 30, 2020.
(4) Sixteen million five hundred thousand dollars ($16,500,000) for the state fiscal year beginning July 1, 2020, and ending June 30, 2021.
(5) Seventeen million five hundred thousand dollars ($17,500,000) for the state fiscal year beginning July 1, 2021, and ending June 30, 2022.
(6) Eighteen million five hundred thousand dollars ($18,500,000) for the state fiscal year beginning July 1, 2022, and ending June 30, 2023, and for each state fiscal year thereafter.
As added by P.L.182-2009(ss), SEC.205. Amended by P.L.92-2011, SEC.4; P.L.205-2013, SEC.84; P.L.213-2015, SEC.86; P.L.217-2017, SEC.66; P.L.108-2019, SEC.123; P.L.165-2021, SEC.90; P.L.201-2023, SEC.101.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 30.5. School Scholarship Tax Credit › 6-3.1-30.5-14. Information Posted by the Department

Sec. 14. The department, on an Internet web site used by the department to provide information to the public, shall provide the following information:
(1) The application for the 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 state fiscal year.
As added by P.L.182-2009(ss), SEC.205.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-2. "Corporation"

Sec. 2. As used in this chapter, "corporation" refers to the Indiana economic development corporation established under IC 5-28-3, unless the context clearly denotes otherwise.
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 › 6-3.1-34-3.5. "Mine Reclamation Site"

Sec. 3.5. As used in this chapter, "mine reclamation site" means:
(1) land that has been mined using surface mining methods or underground mining methods, specifically and primarily for the removal of coal; and
(2) land that is contiguous to land described in subdivision (1).
As added by P.L.154-2020, SEC.21.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-4. "Pass Through Entity"

Sec. 4. As used in this chapter, "pass through entity" means a:
(1) corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2);
(2) partnership;
(3) trust;
(4) limited liability company; or
(5) limited liability partnership.
As added by P.L.158-2019, SEC.29.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-5. "Placed in Service"

Sec. 5. As used in this chapter, "placed in service" means that property is placed in a condition or state of readiness and available to be occupied. In the case of a qualified redevelopment site comprised of a complex of buildings, the entire qualified redevelopment site shall be considered to have been placed in service on the date that a building was placed in service if the building has floor space that, when aggregated with the floor space of all buildings in the complex placed in service on earlier dates, exceeds fifty percent (50%) of the total floor space of all buildings in the complex.
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 › 6-3.1-34-6. "Qualified Redevelopment Site"

Sec. 6. As used in this chapter, "qualified redevelopment site" means a vacant or underutilized property in Indiana as determined by the corporation.
As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.22; P.L.135-2022, SEC.13.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-7. "Qualified Investment"

Sec. 7. As used in this chapter, "qualified investment" means the amount of the taxpayer's expenditures that are:
(1) for the redevelopment or rehabilitation of real property located within a qualified redevelopment site; and
(2) approved by the corporation before the expenditure is made.
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 › 6-3.1-34-8. "Rehabilitation"

Sec. 8. As used in this chapter, "rehabilitation" means the betterment of real property in any way.
As added by P.L.158-2019, SEC.29. Amended by P.L.135-2022, SEC.14.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-9. "State Tax Liability"

Sec. 9. 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) 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.158-2019, SEC.29. Amended by P.L.154-2020, SEC.23.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-10. "Taxpayer"

Sec. 10. As used in this chapter, "taxpayer" means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability. The term includes the owner or the developer of the qualified development site property, a pass through entity, and an assignee that is assigned part or all of a credit under section 14 of this chapter.
As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.24.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-11. Application; Amount of Credit; Pass Through Entity

Sec. 11. (a) A taxpayer may claim a credit against the taxpayer's state tax liability for a taxable year only if the corporation awards a credit to the taxpayer and enters into an agreement with the taxpayer as set forth under this chapter. The corporation may establish an application period for applying for awards. If an application period is established, the corporation shall establish policies and procedures necessary to administer the application period. The corporation may deny an application for a credit under this chapter in its sole discretion. A taxpayer may not seek judicial review of a decision by the corporation to deny a taxpayer's application for a credit.
(b) The amount of the credit that a taxpayer may claim is equal to:
(1) the qualified investment made by the taxpayer and certified and approved by the corporation in accordance with an agreement entered into under section 17 of this chapter for a taxable year; multiplied by
(2) the applicable credit percentage determined by the corporation under section 17(b) and 17(c) of this chapter.
(c) If a pass through entity may claim a credit under this section but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, beneficiary, or member of the pass through entity may claim a credit equal to:
(1) the credit determined for the pass through entity for the taxable year; multiplied by
(2) the percentage of the pass through entity's distributive income that the shareholder, partner, beneficiary, or member may claim.
The credit provided under this subsection is in addition to a credit that a shareholder, partner, beneficiary, or member of a pass through entity may claim. However, a pass through entity and a shareholder, partner, beneficiary, or member of a pass through entity may not claim more than one (1) credit for the qualified investment.
(d) Notwithstanding subsections (a), (b), and (c), a pass through entity (other than an entity described in IC 6-3-1-35(1)) and its partners, beneficiaries, or members may allocate the credit among its partners, beneficiaries, or members of the pass through entity as provided by written agreement without regard to their sharing of other tax or economic attributes. Such agreements shall be filed with the corporation not later than fifteen (15) days after execution. The pass through entity shall also provide a copy of such agreements, a list of partners, beneficiaries, or members of the pass through entity, and their respective shares of the credit resulting from such agreements in the manner prescribed by the department of state revenue.
As added by P.L.158-2019, SEC.29. Amended by P.L.159-2021, SEC.19.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-12. Allocation of Credit Against Taxes Owed; Order; Computation

Sec. 12. (a) A tax credit that a taxpayer may claim under this chapter shall be applied against taxes owed by the taxpayer in the following order:
(1) First, against the taxpayer's adjusted gross income tax liability (IC 6-3-1 through IC 6-3-7) for the taxable year.
(2) Second, against the taxpayer's insurance premiums tax liability (IC 27-1-18-2) or nonprofit agricultural organization health coverage tax liability (IC 6-8-15) for the taxable year.
(3) Third, against the taxpayer's financial institutions tax liability (IC 6-5.5) for the taxable year.
(b) If the tax paid by the taxpayer under a tax provision listed in subsection (a) is a credit against the liability or a deduction in determining the tax base under another Indiana tax provision, the credit or deduction shall be computed without regard to the credit to which a taxpayer may claim under this chapter.
As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.25.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-13. Credit Carryover

Sec. 13. (a) If the amount of the credit determined under section 11 of this chapter for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess credit over for a period not to exceed the taxpayer's following nine (9) taxable years, beginning with the taxable year after the year in which the corporation certifies the taxpayer's expenditures as a qualified investment. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.
(b) A taxpayer is not entitled to a carryback or a refund of any unused credit amount.
As added by P.L.158-2019, SEC.29.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-14. Credit Assignment

Sec. 14.(a) If a taxpayer is awarded a credit under this chapter before July 1, 2029, the taxpayer may assign any part of the credit that the taxpayer may claim under this chapter. A credit that is assigned under this subsection remains subject to this chapter.
(b) If a taxpayer assigns a part of a credit during a taxable year, the assignee may not subsequently assign all or part of the credit to another taxpayer. A taxpayer may make only one (1) assignment of a credit. Before a credit may be assigned, the taxpayer must notify the corporation of the assignment of the credit in the manner prescribed by the corporation. An assignment of a credit must be in writing, and both the taxpayer and assignee shall report the assignment on the taxpayer's and assignee's state tax returns for the year in which the assignment is made, in the manner prescribed by the department. A taxpayer may not receive value in connection with an assignment under this section that exceeds the value of that part of the credit assigned.
(c) The corporation shall collect and compile data on the assignments of tax credits under this chapter and determine the effectiveness of each assignment in getting projects completed. The corporation shall report its findings under this subsection to the legislative council in an electronic format under IC 5-14-6 before November 1, 2022.
As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.26.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-15. Requirements to Be Awarded a Credit

Sec. 15. To be awarded a credit under this chapter, a taxpayer must file an application with the corporation and enter into an agreement with the corporation as set forth under this chapter.
As added by P.L.158-2019, SEC.29.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-16. Factors Considered in Determining Whether to Award a Credit

Sec. 16. The corporation shall consider the following factors in deciding whether to award a credit under this chapter for a proposed qualified investment:
(1) Evidence that the project aligns with the community's development plans.
(2) The economic development potential for the project for which the taxpayer proposes to make the qualified investment.
(3) Evidence of barriers preventing the development or redevelopment of the qualified redevelopment site in which the qualified investment is made, such as significant environmental contamination requiring remediation.
(4) The level of commitment by the public sector and local government to assist in the financing of improvements or redevelopment activities benefiting the qualified redevelopment site in which the qualified investment is made.
(5) Evidence of support by residents, businesses, and private organizations in the surrounding community for the project for which the taxpayer proposes to make the qualified investment.
(6) The level of economic distress in the surrounding community and the extent to which the project for which the taxpayer proposes to make the qualified investment mitigates the economic distress.
(7) The extent to which the project is estimated to enhance the economic opportunity, health, safety, aesthetics, or amenities of the community in a manner that:
(A) improves quality of life factors for residents of the region; and
(B) increases the ability of the region to attract and retain a talented workforce.
(8) Any other factors as determined by the corporation.
As added by P.L.158-2019, SEC.29. Amended by P.L.135-2022, SEC.15.
2023 Indiana Code › Title 6. Taxation › Article 3.1. State Tax Liability Credits › Chapter 34. Redevelopment Tax Credit › 6-3.1-34-17. Requirement That Taxpayer Enter Into Agreement With the Corporation; Applicable Credit Percentage

Sec. 17. (a) The following apply if the corporation determines that a credit should be awarded under this chapter:
(1) The corporation shall require the taxpayer to enter into an agreement with the corporation as a condition of receiving a credit under this chapter.
(2) The agreement with the corporation must:
(A) prescribe the method of certifying the taxpayer's qualified investment; and
(B) include provisions that authorize the corporation to work with the department and the taxpayer, if the corporation determines that the taxpayer is noncompliant with the terms of the agreement or the provisions of this chapter, to bring the taxpayer into compliance or to protect the interests of the state.
(3) The corporation shall specify the taxpayer's expenditures that will be considered a qualified investment.
(4) The corporation shall determine the applicable credit percentage under subsections (b) and (c).
(b) If the corporation determines that a credit should be awarded under this chapter, the corporation shall determine the applicable credit percentage for a qualified investment certified by the corporation. However, and except as provided in subsection (c), the applicable credit percentage may not exceed thirty percent (30%).
(c) The corporation may increase the credit amount by not more than an additional five percent (5%) if:
(1) the qualified redevelopment site is located in a federally designated qualified opportunity zone (Section 1400Z-1 and 1400Z-2 of the Internal Revenue Code); or
(2) the project qualifies for federal new markets tax credits under Section 45D of the Internal Revenue Code.
(d) To be eligible for the credit for a qualified investment, a taxpayer's expenditures that are considered a qualified investment must be certified by the corporation not later than two (2) taxable years after the end of the calendar year in which the taxpayer's expenditures are made.
As added by P.L.158-2019, SEC.29. Amended by P.L.154-2020, SEC.27; P.L.135-2022, SEC.16.