§ 6-3.1-29-14 — Credit

Indiana § 6-3.1-29-14

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 29: Coal Gasification Technology Investment Tax Credit

Text

(a) A taxpayer that:
(1) is awarded a tax credit under this chapter by the corporation;
and
(2) complies with the conditions set forth in this chapter and the
agreement entered into by the corporation and the taxpayer under
this chapter;
is entitled to a credit against the taxpayer's state tax liability for a
taxable year in which the taxpayer places into service an integrated coal
gasification powerplant or a fluidized bed combustion technology and
for the taxable years provided in section 16 of this chapter.
(b) A tax credit awarded under this chapter must be applied against
the taxpayer's state tax liability in the following order:
(1) Against the taxpayer's liability incurred under IC 6-3-1
through IC 6-3-7 (the adjusted gross income tax).
(2) Against the taxpayer's liability incurred under IC 6-5.5 (the
financial institutions tax).
(3) Against the taxpayer's liability incurred under IC 27-1-18-2
(the insurance premiums tax).
(4) Against the taxpayer's liability incurred under IC 6-2.3 (the
utility receipts tax) (before its repeal).

Legislative History

As added by P.L.191-2005, SEC.15. Amended by P.L.122-2006, SEC.12; P.L.138-2022, SEC.10.