§ 6-3.1-22-9 — Qualifying conditions; assistance to office by department of natural resources

Indiana § 6-3.1-22-9

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 22: Residential Historic Rehabilitation Credit

Text

(a) A taxpayer qualifies for a credit under
section 8 of this chapter if all of the following conditions are met:
(1) The historic property is:
(A) located in Indiana;
(B) at least fifty (50) years old; and
(C) except as provided in section 8(c) of this chapter, owned by
the taxpayer.
(2) The office certifies that the historic property is listed in the
register of Indiana historic sites and historic structures.
(3) The office certifies that the taxpayer submitted a proposed
preservation or rehabilitation plan to the office that complies with
the standards of the office.
(4) The office certifies that the preservation or rehabilitation work
that is the subject of the credit substantially complies with the
proposed plan referred to in subdivision (3).
(5) The preservation or rehabilitation work is completed in not
more than:
(A) two (2) years; or
(B) five (5) years if the preservation or rehabilitation plan
indicates that the preservation or rehabilitation is initially
planned for completion in phases.
The time in which work must be completed begins when the
physical work of construction or destruction in preparation for
construction begins.
(6) The historic property is principally used and occupied by the
taxpayer as the taxpayer's residence.
(7) The qualified expenditures for preservation or rehabilitation
of the historic property exceed ten thousand dollars ($10,000).
(b) The division of historic preservation and archaeology of the
department of natural resources shall assist the office, as requested and
at no expense to the office, in making the certifications under this
section.

Legislative History

As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.29.