Sec. 3. As used in this chapter, “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. However, the term does not include debt that:

(1) is provided by a financial institution (as defined in IC 5-13-4-10) after May 15, 2005; and

Terms Used In Indiana Code 6-3.1-24-3

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
(2) is secured by a valid mortgage, security agreement, or other agreement or document that establishes a collateral or security position for the financial institution that is senior to all collateral or security interests of other taxpayers that provide debt or equity capital to the qualified Indiana business.

As added by P.L.192-2002(ss), SEC.119. Amended by P.L.193-2005, SEC.16; P.L.165-2021, SEC.77.

  Previous section
Next section  
 Chapter 24 Contents