Indiana Code 6-3.1-37.2-11. Disqualification for substantial reduction in, or ceasing operations; relocation
Current as of: 2023 | Check for updates
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Terms Used In Indiana Code 6-3.1-37.2-11
- mine reclamation site: means land that has been mined using surface mining methods or underground mining methods, specifically and primarily for the removal of coal, and land contiguous to such previously mined land. See Indiana Code 6-3.1-37.2-2
- taxpayer: means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of a mine reclamation site. See Indiana Code 6-3.1-37.2-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 11. A taxpayer is not entitled to claim the credit provided by this chapter if the corporation determines that the taxpayer has substantially reduced or ceased its operations in Indiana in order to relocate them within the mine reclamation site. A determination that a taxpayer is not entitled to the credit provided by this chapter as a result of a substantial reduction or cessation of operations applies to credits that would otherwise arise in the taxable year in which the substantial reduction or cessation occurs and in all subsequent years.
As added by P.L.214-2023, SEC.2.