§ 6-3.1-38.1-9 — Amount of tax credit

Indiana § 6-3.1-38.1-9

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

Text

(a) Subject to subsection (b), if the
department certifies a taxpayer under section 8 of this chapter, the
taxpayer is entitled to a tax credit against the taxpayer's state tax
liability equal to:
(1) the taxpayer's:
(A) qualified railroad expenditures; or
(B) qualified new rail infrastructure expenditures; multiplied by
(2) fifty percent (50%).
(b) The amount of a tax credit allowed under subsection (a) shall not
exceed the following:
(1) For qualified railroad expenditures, the product of:
(A) the number of miles of Class II or Class III railroad track
owned or leased by the taxpayer in Indiana at the close of the
taxable year; multiplied by
(B) three thousand five hundred dollars ($3,500).
(2) For qualified new rail infrastructure expenditures, the lesser
of:
(A) fifty percent (50%) of the qualified new rail expenditures
for each new rail served customer project completed by the
taxpayer in the taxable year; or
(B) five hundred thousand dollars ($500,000) per rail served
customer project.

Legislative History

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