Sec. 26. (a) This section applies only to taxable years beginning after December 31, 2017.
(b) As used in this section, "fund" refers to the regional development authority infrastructure fund established by IC 36-9-43-9.
(c) Each taxable year, a taxpayer that has made a contribution or gift to the fund is entitled to a deduction from the taxpayer's adjusted gross income for the taxable year in an amount equal to the amount of the federal income tax deduction allowable to the entity under Section 170 of the Internal Revenue Code for the taxable year for the taxpayer's contribution or gift to the fund.
(d) The deduction provided by subsection (c) for a taxable year may apply to a contribution or a gift to the fund that was made in a different taxable year.
(e) If a pass through entity that makes a contribution or gift to the fund is entitled to the deduction provided by subsection (c) for a taxable year, a shareholder, partner, fiduciary, or member of the pass through entity is entitled to an adjusted gross income tax deduction equal to:
(1) the adjusted gross income tax deduction computed 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, fiduciary, or member is entitled.
As added by P.L.229-2017, SEC.30.
Structure Indiana Code
Chapter 2. Imposition of Tax and Deductions
6-3-2-0.3. Intent of General Assembly Adding Section 2.3 of This Chapter
6-3-2-1. Tax Rate; Calculations Required for Purposes of Determining Tax Rate
6-3-2-2.2. Interest Income, Discounts, and Receipts Attributable to State
6-3-2-2.3. In-State Commercial Printing for Out-of-State Customer
6-3-2-2.5. Resident Persons; Net Operating Loss; Adjusted Gross Income
6-3-2-2.5-b. Resident Persons; Net Operating Loss; Adjusted Gross Income
6-3-2-2.6. Corporations and Nonresident Persons; Net Operating Losses
6-3-2-2.6-b. Corporations and Nonresident Persons; Net Operating Losses
6-3-2-2.7. Team Members; Indiana Income; Rules
6-3-2-3.1. Taxation; Nonprofit Entities; Unrelated Business Income
6-3-2-3.2. Indiana Income of Race Team Members
6-3-2-3.5. Exemption; Fares for Public Transportation Services
6-3-2-3.7. Remainder of Federal Civil Service Annuity Minus Certain Retirement Benefits; Deduction
6-3-2-4. Military Service Deduction; Retirement Income or Survivor's Benefits Deduction
6-3-2-6. Deduction; Rent Payments
6-3-2-8. Enterprise Zone Employers; Exemption From Deduction
6-3-2-9. Disability Retirement; Deduction; Amount
6-3-2-10. Unemployment Compensation; Deduction
6-3-2-11. Deductions From Adjusted Gross Income; Federal Employee Paid Leave
6-3-2-12. Foreign Source Dividends; Deduction; Computation
6-3-2-14.1. Prize Money Accruing Before July 1, 2002; Exemption
6-3-2-16. Transactions Between Taxable Entity and Unitary Taxpayer Subject to Ic 6-5.5
6-3-2-19. Distributions for Higher Education; Exemptions
6-3-2-20. Corporations; Intangible Expenses; Directly Related Interest Expenses; Exceptions
6-3-2-21.7. Exemption for Certain Income Derived From Patents
6-3-2-22. Deduction; Unreimbursed Education Expenditures
6-3-2-24. Income Tax Exemption; Olympic Medalist
6-3-2-26. Deduction for Contributions to a Regional Development Authority Infrastructure Fund