Indiana § 6-3.1-16.1-1 Authorization to claim credit

Indiana Statutes

§ 6-3.1-16.1-1 — Authorization to claim credit

Indiana § 6-3.1-16.1-1

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 16.1Historic Rehabilitation Tax Credit

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Bluebook

Ind. Code § 6-3.1-16.1-1 (2026).

Text

(a)For purposes of this section, "department" refers to:

(1)the department of natural resources; or

(2)the office of community and rural affairs.

(b)This section applies notwithstanding:

(1)the cap of zero dollars ($0) on the amount of historic rehabilitation tax credits allowed in a state fiscal year beginning after June 30, 2016, as set forth in IC 6-3.1-16-14 (before its expiration); and

(2)the expiration of the historic rehabilitation tax credit chapter (IC 6-3.1-16) on January 1, 2019.

(c)If a taxpayer was granted a historic rehabilitation tax credit by the department before January 1, 2016, for a qualified expenditure made before June 30, 2016, under IC 6-3.1-16 (before its expiration) for use in a taxable year other than the year in which the preservation or rehabilitation of

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(a) For purposes of this section,
"department" refers to:
(1) the department of natural resources; or
(2) the office of community and rural affairs.
(b) This section applies notwithstanding:
(1) the cap of zero dollars ($0) on the amount of historic
rehabilitation tax credits allowed in a state fiscal year beginning
after June 30, 2016, as set forth in IC 6-3.1-16-14 (before its
expiration); and
(2) the expiration of the historic rehabilitation tax credit chapter
(IC 6-3.1-16) on January 1, 2019.
(c) If a taxpayer was granted a historic rehabilitation tax credit by
the department before January 1, 2016, for a qualified expenditure
made before June 30, 2016, under IC 6-3.1-16 (before its expiration)
for use in a taxable year other than the year in which the preservation
or rehabilitation of the historic property was performed and the
certification of the credit was provided by the department, the credit
described in this subsection may nevertheless be claimed in the
subsequent year for which the credit was granted by the department and
may be carried forward as set forth in this section.
(d) If the credit provided by this section exceeds a taxpayer's state
tax liability for the taxable year for which the credit is first claimed, the
excess may be carried over to succeeding taxable years and used as a
credit against the tax otherwise due and payable by the taxpayer under
IC 6-3 during those taxable years. Each time that the credit is carried
over to a succeeding taxable year, the credit is to be reduced by the
amount that was used as a credit during the immediately preceding
taxable year. The credit provided by this chapter may be carried
forward and applied to succeeding taxable years for fifteen (15) taxable
years following the taxable year in which the taxpayer is first entitled
to claim the credit under this chapter.
(e) A credit earned by a taxpayer in a particular taxable year shall
be applied against the taxpayer's tax liability for that taxable year
before any credit carryover is applied against that liability under
subsection (d).
(f) A taxpayer is not entitled to any carryback or refund of any
unused credit.
(g) All of the provisions under IC 6-3.1-16 (before its expiration)
shall be considered to be in effect for credits claimed under this
chapter, except to the extent expressly inconsistent with this chapter.