Indiana § 6-3.1-24-12.5 Certification of investment plan; application; proof of investment
within two years

Indiana Statutes

§ 6-3.1-24-12.5 — Certification of investment plan; application; proof of investment within two years

Indiana § 6-3.1-24-12.5

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 24Venture Capital Investment Tax Credit

This text of Indiana § 6-3.1-24-12.5 (Certification of investment plan; application; proof of investment within two years) 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 § 6-3.1-24-12.5 (2026).

Text

5.

(a)A taxpayer wishing to obtain a credit under this chapter must apply to the Indiana economic development corporation for a certification that the taxpayer's proposed investment plan would qualify for a credit under this chapter.

(b)The application required under subsection (a) must include:

(1)the name and address of the taxpayer;

(2)the name and address of each proposed recipient of the taxpayer's proposed investment;

(3)the amount of the proposed investment;

(4)a copy of the certification issued under section 7 or 7.5 of this chapter that the proposed recipient is a qualified Indiana business or qualified Indiana investment fund, whichever is applicable; and

(5)any other information required by the Indiana economic development corporation.

(c)If the Indiana economic developm

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5. (a) A taxpayer wishing to obtain a credit
under this chapter must apply to the Indiana economic development
corporation for a certification that the taxpayer's proposed investment
plan would qualify for a credit under this chapter.
(b) The application required under subsection (a) must include:
(1) the name and address of the taxpayer;
(2) the name and address of each proposed recipient of the
taxpayer's proposed investment;
(3) the amount of the proposed investment;
(4) a copy of the certification issued under section 7 or 7.5 of this
chapter that the proposed recipient is a qualified Indiana business
or qualified Indiana investment fund, whichever is applicable; and
(5) any other information required by the Indiana economic
development corporation.
(c) If the Indiana economic development corporation determines
that the proposed investment would qualify the taxpayer for a credit
under this chapter, the corporation may certify the taxpayer's proposed
investment plan.
(d) To receive a credit under this chapter, the taxpayer must provide
qualified investment capital to a qualified Indiana business or qualified
Indiana investment fund, whichever is applicable, according to the
taxpayer's certified investment plan within two (2) years after the date
on which the Indiana economic development corporation certifies the
investment plan.
(e) Upon making the investment required under subsection (d), the
taxpayer shall provide proof of the investment to the Indiana economic
development corporation.
(f) Upon receiving proof of a taxpayer's investment under subsection
(e), the Indiana economic development corporation shall issue the
taxpayer a certificate indicating that the taxpayer has fulfilled the
requirements of the corporation and that the taxpayer is entitled to a
credit under this chapter.
(g) Notwithstanding subsection (f), if a taxpayer is issued a
certificate by the Indiana economic development corporation for an
investment made in a qualified Indiana investment fund, a taxpayer
may not claim the credit as provided in section 13 of this chapter before
July 1, 2023.
(h) A taxpayer forfeits the right to a tax credit attributable to an
investment certified under subsection (c) if the taxpayer fails to make
the proposed investment within the period required under subsection
(d).