Sec. 5. As used in this chapter, "industrial recovery site" means land on which a vacant plant having at least one hundred thousand (100,000) square feet of total floor space:
(1) exists as of the date an application is filed with the corporation under this chapter and was placed in service at least fifteen (15) years before the date on which an application is filed with the corporation under this chapter; or
(2) existed within five (5) years before the date an application is filed with the corporation under this chapter and was placed in service at least fifteen (15) years before the date on which the demolition of the vacant plant was completed.
As added by P.L.379-1987(ss), SEC.11. Amended by P.L.204-2016, SEC.18.
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