§ 6-3.1-13-15 — Agreement for tax credit with respect to new job creation; conditions

Indiana § 6-3.1-13-15

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 13: Economic Development for a Growing Economy Tax

Text

This section applies to an application
proposing a project to create new jobs in Indiana. After receipt of an
application, the corporation may enter into an agreement with the
applicant for a credit under this chapter if the corporation determines
that all of the following conditions exist:
(1) The applicant's project will create new jobs that were not jobs
previously performed by employees of the applicant in Indiana.
(2) The applicant's project is economically sound and will benefit
the people of Indiana by increasing opportunities for employment
in Indiana and strengthening the economy of Indiana.
(3) Receiving the tax credit is a major factor in the applicant's
decision to go forward with the project and not receiving the tax
credit will result in the applicant not creating new jobs in Indiana.
(4) Awarding the tax credit will result in an overall positive fiscal
impact to the state, as certified by the budget agency using the
best available data.
(5) The credit is not prohibited by section 16 of this chapter.
(6) If the business is located in a community revitalization
enhancement district established under IC 36-7-13 or a certified
technology park established under IC 36-7-32, the legislative
body of the political subdivision establishing the district or park
has adopted an ordinance recommending the granting of a credit
amount that is at least equal to the credit amount provided in the
agreement.

Legislative History

As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002, SEC.44; P.L.4-2005, SEC.71; P.L.197-2005, SEC.4.