§ 6-3.1-29-15 — Computation of credit amount

Indiana § 6-3.1-29-15

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

Text

(a) Subject to section 16 of this chapter, the
amount of the credit to which a taxpayer is entitled for a qualified
investment in an integrated coal gasification powerplant is equal to the
sum of the following:
(1) Ten percent (10%) of the taxpayer's qualified investment for
the first five hundred million dollars ($500,000,000) invested.
(2) Five percent (5%) of the amount of the taxpayer's qualified
investment that exceeds five hundred million dollars
($500,000,000) only if the facility is dedicated primarily to
serving Indiana retail electric or gas utility consumers.
(b) Subject to section 16 of this chapter, the amount of the credit to
which a taxpayer is entitled for a qualified investment in a fluidized
bed combustion technology is equal to the sum of the following:
(1) Seven percent (7%) of the taxpayer's qualified investment for
the first five hundred million dollars ($500,000,000) invested.
(2) Three percent (3%) of the amount of the taxpayer's qualified
investment that exceeds five hundred million dollars
($500,000,000).

Legislative History

As added by P.L.191-2005, SEC.15. Amended by P.L.122-2006, SEC.13; P.L.175-2007, SEC.5.