§ 6-3.1-30-15 — Provisions required in an agreement

Indiana § 6-3.1-30-15

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 30: Headquarters Relocation Tax Credit

Text

(a) The corporation shall require the
taxpayer to enter into an agreement with the corporation as a condition
of receiving a credit under this chapter.
(b) The agreement with the corporation must:
(1) prescribe the method of certifying the taxpayer's qualified
investment;
(2) include provisions that authorize the corporation to work with
the department and the taxpayer, if the corporation determines
that the taxpayer is noncompliant with the terms of the agreement
or the provisions of this chapter, to bring the taxpayer into
compliance or to protect the interests of the state; and
(3) require the taxpayer to:
(A) maintain its corporate headquarters at a location in Indiana
if the business qualifies as an eligible business under section
2(1) of this chapter; or
(B) maintain either:
(i) its corporate headquarters at a location in Indiana if the
business qualifies as an eligible business under section 2(2)
of this chapter; or
(ii) the number of jobs that equals eighty percent (80%) of the
business's total payroll at a location in Indiana if the business
qualifies as an eligible business under section 2(2) of this
chapter;
for not less than five (5) consecutively succeeding calendar
years following the calendar year in which the taxpayer first
incurs qualifying relocation expenses.

Legislative History

As added by P.L.158-2019, SEC.27.