Indiana § 6-3.1-37.2-6 Credit; amount; assignment

Indiana Statutes

§ 6-3.1-37.2-6 — Credit; amount; assignment

Indiana § 6-3.1-37.2-6

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 37.2Mine Reclamation Tax Credit

This text of Indiana § 6-3.1-37.2-6 (Credit; amount; assignment) 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 § 6-3.1-37.2-6 (2026).

Text

(a)Subject to entering into an agreement with the corporation under section 8 of this chapter and subject to section 11 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability for a taxable year if the taxpayer makes a qualified investment in that year.

(b)Subject to section 15 of this chapter, the amount of the credit to which a taxpayer is entitled may not exceed the lesser of:

(1)the qualified investment made by the taxpayer during the taxable year multiplied by thirty percent (30%); or

(2)five million dollars ($5,000,000).

(c)A taxpayer may assign any part of the credit to which the taxpayer is entitled under this chapter to a lessee of the mine reclamation site. A credit that is assigned under this subsection remains subject to this chapter.

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(a) Subject to entering into an agreement
with the corporation under section 8 of this chapter and subject to
section 11 of this chapter, a taxpayer is entitled to a credit against the
taxpayer's state tax liability for a taxable year if the taxpayer makes a
qualified investment in that year.
(b) Subject to section 15 of this chapter, the amount of the credit to
which a taxpayer is entitled may not exceed the lesser of:
(1) the qualified investment made by the taxpayer during the
taxable year multiplied by thirty percent (30%); or
(2) five million dollars ($5,000,000).
(c) A taxpayer may assign any part of the credit to which the
taxpayer is entitled under this chapter to a lessee of the mine
reclamation site. A credit that is assigned under this subsection remains
subject to this chapter.
(d) An assignment under subsection (c) must be in writing and both
the taxpayer and the lessee must report the assignment on their state tax
returns for the year in which the assignment is made in the manner
prescribed by the department of state revenue. The taxpayer may not
receive value in connection with the assignment under subsection (c)
that exceeds the value of the part of the credit assigned.