Indiana Code
Chapter 13. Economic Development for a Growing Economy Tax Credit
6-3.1-13-19.5. Agreement for Tax Credit With Respect to Job Retention; Requirements

Sec. 19.5. (a) In the case of a credit awarded for a project to retain existing jobs in Indiana, the corporation shall enter into an agreement with an applicant that is awarded a credit under this chapter. The agreement must include all of the following:
(1) A detailed description of the business that is the subject of the agreement.
(2) The duration of the tax credit and the first taxable year for which the credit may be claimed.
(3) The credit amount that will be allowed for each taxable year.
(4) A requirement that the applicant shall maintain operations at the project location for at least two (2) years following the last taxable year in which the applicant claims the tax credit or carries over an unused part of the tax credit under section 18 of this chapter. An applicant is subject to an assessment under section 22 of this chapter for noncompliance with the requirement described in this subdivision.
(5) A requirement that the applicant shall annually report the following to the corporation:
(A) The number of employees who are employed in Indiana by the applicant.
(B) The compensation (including benefits) paid to the applicant's employees in Indiana.
(C) The amount of the:
(i) facility improvements;
(ii) equipment and machinery upgrades, repairs, or retrofits; or
(iii) other direct business related investments, including training.
(6) A requirement that the applicant shall provide written notification to the corporation not more than thirty (30) days after the applicant makes or receives a proposal that would transfer the applicant's state tax liability obligations to a successor taxpayer.
(7) Any other performance conditions that the corporation determines are appropriate.
(b) An agreement between an applicant and the corporation must be submitted to the budget committee for review and must be approved by the budget agency before an applicant is awarded a credit under this chapter for a project to retain existing jobs in Indiana.
As added by P.L.178-2002, SEC.49. Amended by P.L.4-2005, SEC.77; P.L.197-2005, SEC.9; P.L.145-2016, SEC.26.

Structure Indiana Code

Indiana Code

Title 6. Taxation

Article 3.1. State Tax Liability Credits

Chapter 13. Economic Development for a Growing Economy Tax Credit

6-3.1-13-0.4. Legalization of Actions Taken by Indiana Economic Development Corporation in Administration of Chapter After February 8, 2005, and Before May 11, 2005

6-3.1-13-1. Repealed

6-3.1-13-1.5. "Corporation"

6-3.1-13-2. "Credit Amount"

6-3.1-13-3. Repealed

6-3.1-13-4. "Full-Time Employee"

6-3.1-13-5. "Incremental Income Tax Withholdings"

6-3.1-13-5.3. "Naics"

6-3.1-13-5.5. "Naics Industry Sector"

6-3.1-13-6. "New Employee"

6-3.1-13-7. "Pass Through Entity"

6-3.1-13-8. "Related Member"

6-3.1-13-9. "State Tax Liability"

6-3.1-13-10. "Taxpayer"

6-3.1-13-11. Credit Against State Tax Liability

6-3.1-13-12. Repealed

6-3.1-13-13. Purposes for Which Credit May Be Awarded; Years for Which Credit Claimed

6-3.1-13-14. Application to Enter Into Agreement for Tax Credit

6-3.1-13-15. Agreement for Tax Credit With Respect to New Job Creation; Conditions

6-3.1-13-15.5. Agreement for Tax Credit With Respect to Job Retention; Conditions

6-3.1-13-15.7. Repealed

6-3.1-13-16. Relocation of Jobs From One Site to Another Within State; Credit Prohibited

6-3.1-13-17. Amount of Credit Awarded; Factors; Conditions for a Project Without a Physical Location in Indiana

6-3.1-13-18. Duration of Credit; Maximum Credit With Respect to Job Creation; Prohibit Computation of Credit

6-3.1-13-19. Agreement for Tax Credit With Respect to Job Creation; Requirements

6-3.1-13-19.5. Agreement for Tax Credit With Respect to Job Retention; Requirements

6-3.1-13-19.7. Repealed

6-3.1-13-20. Claiming Credit; Election to Receive Payment in Lieu of Credit; Submission of Required Information to Department of State Revenue

6-3.1-13-21. Pass Through Entity; Calculation of Tax Credit; Shareholder or Partner Claiming Credit; Refundable Credits

6-3.1-13-22. Noncompliance With Agreement; Assessments

6-3.1-13-23. Repealed

6-3.1-13-24. Biennial Evaluation by Indiana Economic Development Corporation

6-3.1-13-25. Rules Adoption; Fees

6-3.1-13-26. Economic Development for a Growing Economy Fund; Use; Investments; Appropriations

6-3.1-13-27. Repealed

6-3.1-13-28. Repealed