Indiana § 6-3.1-34.6-10 Maximum annual credit; maximum overall credit

Indiana Statutes

§ 6-3.1-34.6-10 — Maximum annual credit; maximum overall credit

Indiana § 6-3.1-34.6-10

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 34.6Tax Credit for Natural Gas Powered Vehicles

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Bluebook

Ind. Code § 6-3.1-34.6-10 (2026).

Text

The total amount of the tax credits granted in a particular year to all persons under this chapter may not exceed the lesser of:

(1)three million dollars ($3,000,000) per year; or

(2)the revenue, as estimated by the budget agency, that is attributable to the imposition of the gross retail and use tax on transactions involving the purchase of a natural gas product (as defined by IC 6-6-2.5-16.5) to fuel a motor vehicle for the year the credit is claimed. In addition, the tax credits granted for all years to all persons under this chapter may not exceed three (3) times the per year amount under subdivision (1) or (2), whichever applies for a particular year.

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The total amount of the tax credits granted
in a particular year to all persons under this chapter may not exceed the
lesser of:
(1) three million dollars ($3,000,000) per year; or
(2) the revenue, as estimated by the budget agency, that is
attributable to the imposition of the gross retail and use tax on
transactions involving the purchase of a natural gas product (as
defined by IC 6-6-2.5-16.5) to fuel a motor vehicle for the year
the credit is claimed.
In addition, the tax credits granted for all years to all persons under this
chapter may not exceed three (3) times the per year amount under
subdivision (1) or (2), whichever applies for a particular year.