Indiana § 6-3.1-24-3 "Qualified investment capital" defined

Indiana Statutes

§ 6-3.1-24-3 — "Qualified investment capital" defined

Indiana § 6-3.1-24-3

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 24Venture Capital Investment Tax Credit

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Bluebook

Ind. Code § 6-3.1-24-3 (2026).

Text

As used in this chapter, "qualified investment capital" means debt or equity capital that is provided to a qualified Indiana business or a qualified Indiana investment fund after December 31, 2003. However, the term does not include debt that:

(1)is provided by a financial institution (as defined in IC 5-13-4-10) after May 15, 2005; and

(2)is secured by a valid mortgage, security agreement, or other agreement or document that establishes a collateral or security position for the financial institution that is senior to all collateral or security interests of other taxpayers that provide debt or equity capital to the qualified Indiana business.

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As used in this chapter, "qualified investment
capital" means debt or equity capital that is provided to a qualified
Indiana business or a qualified Indiana investment fund after December
31, 2003. However, the term does not include debt that:
(1) is provided by a financial institution (as defined in IC 5-13-4-10) after May 15, 2005; and
(2) is secured by a valid mortgage, security agreement, or other
agreement or document that establishes a collateral or security
position for the financial institution that is senior to all collateral
or security interests of other taxpayers that provide debt or equity
capital to the qualified Indiana business.