Sec. 9. (a) A person that or an individual who desires to claim a tax credit as provided in this chapter shall file with the department, in the form approved by the department, an application stating the amount of the qualified contribution that the person or individual proposes to make and the amount sought to be claimed as a credit.

     (b) The department shall promptly notify an applicant whether, or the extent to which, the tax credit is allowable in the state fiscal year in which the application is filed, as provided in section 6 of this chapter. If the credit is allowable in that state fiscal year, the applicant shall within thirty (30) days after receipt of the notice file with the department a statement, in the form and accompanied by the proof of payment of the qualified contribution as the department may prescribe, setting forth that the amount to be claimed as a credit under this chapter has been paid through a qualified contribution as provided in section 6 of this chapter.

Terms Used In Indiana Code 6-3.1-18-9

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • qualified contribution: means a contribution to a fund for which a community development corporation has received an allocation of tax credits under IC 4-4-28-13. See Indiana Code 6-3.1-18-4.5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (c) The department may disallow any credit claimed under this chapter for which the statement or proof of payment is not filed within the thirty (30) day period.

As added by P.L.15-1997, SEC.2. Amended by P.L.50-2016, SEC.12.

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