Sec. 15. (a) Before January 1, 2022, the total amount of credits that may be awarded by the Indiana economic development corporation under this chapter for investment plans certified as provided in section 12.5 of this chapter that propose investing qualified investment capital in a particular qualified Indiana business during a particular calendar year is twelve million five hundred thousand dollars ($12,500,000).

     (b) After December 31, 2021, the total amount of credits that may be awarded by the Indiana economic development corporation under this chapter for investment plans certified as provided in section 12.5 of this chapter that propose investing qualified investment capital in a particular qualified Indiana business or qualified Indiana investment fund during a particular calendar year is twenty million dollars ($20,000,000), provided that not more than seven million five hundred thousand dollars ($7,500,000) may be awarded for proposed investments of qualified investment capital in a qualified Indiana investment fund.

As added by P.L.165-2021, SEC.87.

Terms Used In Indiana Code 6-3.1-24-15

  • 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.
  • qualified Indiana business: means an independently owned and operated business that is certified as a qualified Indiana business by the Indiana economic development corporation under section 7 of this chapter. See Indiana Code 6-3.1-24-2
  • qualified Indiana investment fund: means any private fund that meets the definition of a venture capital fund in 17 C. See Indiana Code 6-3.1-24-2.5
  • qualified investment capital: means debt or equity capital that is provided to a qualified Indiana business or a qualified Indiana investment fund after December 31, 2003. See Indiana Code 6-3.1-24-3
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
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