Indiana § 6-3.1-35-8 Annual aggregate credit limit

Indiana Statutes

§ 6-3.1-35-8 — Annual aggregate credit limit

Indiana § 6-3.1-35-8

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 35Affordable and Workforce Housing Tax Credit

This text of Indiana § 6-3.1-35-8 (Annual aggregate credit limit) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-3.1-35-8 (2026).

Text

(a)For each state fiscal year beginning after June 30, 2023, and before July 1, 2028, the aggregate amount of state tax credits awarded by the authority under this chapter may not exceed thirty million dollars ($30,000,000). For purposes of calculating the aggregate state tax credit limit for a state fiscal year, the amounts awarded by the authority are considered to be awarded in the year the award is made to the state tax credit recipient by the authority, notwithstanding the fact that the awarded state tax credit is to be claimed over the state tax credit period.

(b)To the extent that the tax credit applications requesting state tax credits exceed the amount of available state tax credits in a year, or the authority reasonably anticipates that the requests will exceed the state fiscal

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(a) For each state fiscal year beginning after
June 30, 2023, and before July 1, 2028, the aggregate amount of state
tax credits awarded by the authority under this chapter may not exceed
thirty million dollars ($30,000,000). For purposes of calculating the
aggregate state tax credit limit for a state fiscal year, the amounts
awarded by the authority are considered to be awarded in the year the
award is made to the state tax credit recipient by the authority,
notwithstanding the fact that the awarded state tax credit is to be
claimed over the state tax credit period.
(b) To the extent that the tax credit applications requesting state tax
credits exceed the amount of available state tax credits in a year, or the
authority reasonably anticipates that the requests will exceed the state
fiscal year limitation established in subsection (a), the authority may
allocate the state tax credits in a manner that furthers the mission and
purpose of the authority and otherwise promotes the establishment of
qualified projects.