§ 6-3.1-13-22 — Noncompliance with agreement; assessments

If the corporation determines that a taxpayer
who has claimed a credit under this chapter is not entitled to the credit
because of the taxpayer's noncompliance with the requirements of the
tax credit agreement or all of the provisions of this chapter, the
corporation shall, after giving the taxpayer an opportunity to explain
the noncompliance:
(1) notify the department of state revenue of the noncompliance;
and
(2) request the department of state revenue to impose an
assessment on the taxpayer in an amount that may not exceed the
sum of any previously allowed credits under this chapter together
with interest and penalties required or permitted by law.

Legislative History

As added by P.L.41-1994, SEC.1. Amended by P.L.4-2005, SEC.80; P.L.145-2016, SEC.28.