§ 6-3.1-38.1-14 — Aggregate amount of tax credits permitted

Indiana § 6-3.1-38.1-14

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 38.1: Railroad Tax Credit for Qualified Infrastructure

Text

(a) For each state fiscal year beginning
after June 30, 2025, the aggregate amount of state tax credits permitted:
(1) for qualified railroad expenditures allowed under this chapter
may not exceed nine million five hundred thousand dollars
($9,500,000); and
(2) for qualified new rail infrastructure expenditures allowed
under this chapter may not exceed five million dollars
($5,000,000).
(b) Not later than June 15, 2026, and not later than June 15 each
year thereafter, the department shall report to the Indiana department
of transportation and the state comptroller the total amount of state tax
credits certified for the immediately preceding taxable year under
section 8(c) of this chapter.

Legislative History

As added by P.L.173-2025, SEC.2.