Sec. 25. (a) Notwithstanding any other law and except as provided in subsection (b), a taxpayer is entitled to receive a credit under this chapter only for a qualified investment made before January 1, 2020.
(b) A taxpayer is entitled to receive a credit for a qualified investment made after December 31, 2019, and before January 1, 2030, if the taxpayer is awarded a credit under:
(1) an application approved by the corporation before January 1, 2020; or
(2) an agreement entered into by the taxpayer and the corporation before January 1, 2021.
(c) This section may not be construed to prevent a taxpayer from carrying an unused tax credit attributable to a qualified investment made before January 1, 2020, or made as provided in subsection (b) forward to a taxable year beginning after December 31, 2019, and before January 1, 2030, in the manner provided for by section 17 of this chapter.
(d) This chapter expires January 1, 2030.
As added by P.L.158-2019, SEC.10.
Structure Indiana Code
Article 3.1. State Tax Liability Credits
Chapter 11. Industrial Recovery Tax Credit
6-3.1-11-1. "Applicable Percentage"
6-3.1-11-5. "Industrial Recovery Site"
6-3.1-11-8. "Placed in Service"
6-3.1-11-10. "Qualified Investment"
6-3.1-11-12. "State Tax Liability"
6-3.1-11-16. Credit for Qualified Investment; Computation of Amount; Assignment of Credit
6-3.1-11-17. Carryover of Excess Credit; Carryback or Refund of Unused Credit Barred
6-3.1-11-18.5. Application to Enter Into Agreement With the Corporation
6-3.1-11-22. Application of Credit Against Taxes Owed; Order; Computation
6-3.1-11-23. Claiming of Credit on Annual Tax Return; Certification; Required Information