Indiana § 6-3.1-13-19.5 Agreement for tax credit with respect to job retention; requirements

Indiana Statutes

§ 6-3.1-13-19.5 — Agreement for tax credit with respect to job retention; requirements

Indiana § 6-3.1-13-19.5

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 13Economic Development for a Growing Economy Tax

This text of Indiana § 6-3.1-13-19.5 (Agreement for tax credit with respect to job retention; requirements) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-3.1-13-19.5 (2026).

Text

5.

(a)In the case of a credit awarded for a project to retain existing jobs in Indiana, the corporation shall enter into an agreement with an applicant that is awarded a credit under this chapter. The agreement must include all of the following:

(1)A detailed description of the business that is the subject of the agreement.

(2)The duration of the tax credit and the first taxable year for which the credit may be claimed.

(3)The credit amount that will be allowed for each taxable year.

(4)A requirement that the applicant shall maintain operations at the project location for at least two (2) years following the last taxable year in which the applicant claims the tax credit or carries over an unused part of the tax credit under section 18 of this chapter. An applicant is subject to an ass

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5. (a) In the case of a credit awarded for a
project to retain existing jobs in Indiana, the corporation shall enter into
an agreement with an applicant that is awarded a credit under this
chapter. The agreement must include all of the following:
(1) A detailed description of the business that is the subject of the
agreement.
(2) The duration of the tax credit and the first taxable year for
which the credit may be claimed.
(3) The credit amount that will be allowed for each taxable year.
(4) A requirement that the applicant shall maintain operations at
the project location for at least two (2) years following the last
taxable year in which the applicant claims the tax credit or carries
over an unused part of the tax credit under section 18 of this
chapter. An applicant is subject to an assessment under section 22
of this chapter for noncompliance with the requirement described
in this subdivision.
(5) A requirement that the applicant shall annually report the
following to the corporation:
(A) The number of employees who are employed in Indiana by
the applicant.
(B) The compensation (including benefits) paid to the
applicant's employees in Indiana.
(C) The amount of the:
(i) facility improvements;
(ii) equipment and machinery upgrades, repairs, or retrofits;
or
(iii) other direct business related investments, including
training.
(6) A requirement that the applicant shall provide written
notification to the corporation not more than thirty (30) days after
the applicant makes or receives a proposal that would transfer the
applicant's state tax liability obligations to a successor taxpayer.
(7) Any other performance conditions that the corporation
determines are appropriate.
(b) An agreement between an applicant and the corporation must be
submitted to the budget committee for review and must be approved by
the budget agency before an applicant is awarded a credit under this
chapter for a project to retain existing jobs in Indiana.