Indiana Code 6-3.1-34-16. Factors considered in determining whether to award a credit
(1) Evidence that the project aligns with the community’s development plans.
Terms Used In Indiana Code 6-3.1-34-16
- corporation: refers to the Indiana economic development corporation established under IC 5-28-3, unless the context clearly denotes otherwise. See Indiana Code 6-3.1-34-2
- 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.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- qualified investment: means the amount of the taxpayer's expenditures that are:
Indiana Code 6-3.1-34-7
- qualified redevelopment site: means a vacant or underutilized property in Indiana as determined by the corporation. See Indiana Code 6-3.1-34-6
- taxpayer: means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability. See Indiana Code 6-3.1-34-10
(3) Evidence of barriers preventing the development or redevelopment of the qualified redevelopment site in which the qualified investment is made, such as significant environmental contamination requiring remediation.
(4) The level of commitment by the public sector and local government to assist in the financing of improvements or redevelopment activities benefiting the qualified redevelopment site in which the qualified investment is made.
(5) Evidence of support by residents, businesses, and private organizations in the surrounding community for the project for which the taxpayer proposes to make the qualified investment.
(6) The level of economic distress in the surrounding community and the extent to which the project for which the taxpayer proposes to make the qualified investment mitigates the economic distress.
(7) The extent to which the project is estimated to enhance the economic opportunity, health, safety, aesthetics, or amenities of the community in a manner that:
(A) improves quality of life factors for residents of the region; and
(B) increases the ability of the region to attract and retain a talented workforce.
(8) Any other factors as determined by the corporation.
As added by P.L.158-2019, SEC.29. Amended by P.L.135-2022, SEC.15.