Indiana Code 6-3.1-13-15. Agreement for tax credit with respect to new job creation; conditions
(1) The applicant’s project will create new jobs that were not jobs previously performed by employees of the applicant in Indiana.
Terms Used In Indiana Code 6-3.1-13-15
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: means the Indiana economic development corporation established by IC 5-28-3-1. See Indiana Code 6-3.1-13-1.5
- credit amount: means the amount agreed to between the corporation and applicant under this chapter, but not to exceed, in the case of a credit awarded for a project to create new jobs in Indiana, the incremental income tax withholdings attributable to the applicant's project. See Indiana Code 6-3.1-13-2
(3) Receiving the tax credit is a major factor in the applicant’s decision to go forward with the project and not receiving the tax credit will result in the applicant not creating new jobs in Indiana.
(4) Awarding the tax credit will result in an overall positive fiscal impact to the state, as certified by the budget agency using the best available data.
(5) The credit is not prohibited by section 16 of this chapter.
(6) If the business is located in a community revitalization enhancement district established under IC 36-7-13 or a certified technology park established under IC 36-7-32, the legislative body of the political subdivision establishing the district or park has adopted an ordinance recommending the granting of a credit amount that is at least equal to the credit amount provided in the agreement.
As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002, SEC.44; P.L.4-2005, SEC.71; P.L.197-2005, SEC.4.