§ 6-3.1-34-16 — Factors considered in determining whether to award a credit

Indiana § 6-3.1-34-16

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 34: Redevelopment Tax Credit

Text

The corporation shall consider the following
factors in deciding whether to award a credit under this chapter for a
proposed qualified investment:
(1) Evidence that the project aligns with the community's
development plans.
(2) The economic development potential for the project for which
the taxpayer proposes to make the qualified investment.
(3) Evidence of barriers preventing the development or
redevelopment of the qualified redevelopment site in which the
qualified investment is made, such as significant environmental
contamination requiring remediation.
(4) The level of commitment by the public sector and local
government to assist in the financing of improvements or
redevelopment activities benefiting the qualified redevelopment
site in which the qualified investment is made.
(5) Evidence of support by residents, businesses, and private
organizations in the surrounding community for the project for
which the taxpayer proposes to make the qualified investment.
(6) The level of economic distress in the surrounding community
and the extent to which the project for which the taxpayer
proposes to make the qualified investment mitigates the economic
distress.
(7) The extent to which the project is estimated to enhance the
economic opportunity, health, safety, aesthetics, or amenities of
the community in a manner that:
(A) improves quality of life factors for residents of the region;
and
(B) increases the ability of the region to attract and retain a
talented workforce.
(8) Any other factors as determined by the corporation.

Legislative History

As added by P.L.158-2019, SEC.29. Amended by P.L.135-2022, SEC.15.