§ 6-3.1-35-6 — Credit assignment

Indiana § 6-3.1-35-6

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 35: Affordable and Workforce Housing Tax Credit

Text

(a) A holder of a state tax credit may transfer,
sell, or assign all or part of a state tax credit for a taxable year in the
state tax credit period of the associated qualified project if the holder
of the state tax credit complies with this section.
(b) A holder shall furnish the following to the transferee, purchaser,
or assignee:
(1) A copy of the eligibility statement for the qualified project.
(2) A declaration, on a form prescribed by the department, that
states:
(A) the percentage of the state tax credit for the taxable year
that was held by the transferor before the transfer;
(B) the percentage of the state tax credit for the taxable year
that will be held by the transferor after the transfer;
(C) the percentage of the state tax credit for the taxable year
that will be held by the transferee after the transfer; and
(D) any other information required by the department.
The percentage specified in clause (A) must equal the sum of the
percentages specified in clauses (B) and (C).
(3) Copies of other documents in the possession of the transferor
that relate to the transferor's right to claim the state tax credit
provided by this chapter, if any.
(c) A transferor of all or part of a state tax credit for a taxable year
under this section shall report the transaction to the department in the
manner prescribed by the department.

Legislative History

As added by P.L.137-2022, SEC.52.