Sec. 15. (a) Subject to section 16 of this chapter, the amount of the credit to which a taxpayer is entitled for a qualified investment in an integrated coal gasification powerplant is equal to the sum of the following:
(1) Ten percent (10%) of the taxpayer's qualified investment for the first five hundred million dollars ($500,000,000) invested.
(2) Five percent (5%) of the amount of the taxpayer's qualified investment that exceeds five hundred million dollars ($500,000,000) only if the facility is dedicated primarily to serving Indiana retail electric or gas utility consumers.
(b) Subject to section 16 of this chapter, the amount of the credit to which a taxpayer is entitled for a qualified investment in a fluidized bed combustion technology is equal to the sum of the following:
(1) Seven percent (7%) of the taxpayer's qualified investment for the first five hundred million dollars ($500,000,000) invested.
(2) Three percent (3%) of the amount of the taxpayer's qualified investment that exceeds five hundred million dollars ($500,000,000).
As added by P.L.191-2005, SEC.15. Amended by P.L.122-2006, SEC.13; P.L.175-2007, SEC.5.
Structure Indiana Code
Article 3.1. State Tax Liability Credits
Chapter 29. Coal Gasification Technology Investment Tax Credit
6-3.1-29-0.1. Application of Chapter; Severability
6-3.1-29-1. Legislative Intent; Use of Women and Minority Businesses as Vendors
6-3.1-29-4.5. "Fluidized Bed Combustion Technology"
6-3.1-29-6. "Integrated Coal Gasification Powerplant"
6-3.1-29-8. "Minority Business Enterprise"
6-3.1-29-9. "Pass Through Entity"
6-3.1-29-10. "Qualified Investment"
6-3.1-29-11. "State Tax Liability"
6-3.1-29-13. "Women's Business Enterprise"
6-3.1-29-15. Computation of Credit Amount
6-3.1-29-16. Limitations on Use of Credit
6-3.1-29-17. Preconstruction Application for Credit
6-3.1-29-18. Conditions for Granting Credit Application
6-3.1-29-19. Terms of Required Agreement; Certificate of Compliance
6-3.1-29-20. Allocation of Credit Among Shareholders, Partners, and Members
6-3.1-29-20.5. Assignability of Credit by Contract
6-3.1-29-20.7. Findings; Election to Receive Refundable Credit