§ 6-3.1-39.5-5 — "Recapture event"

Indiana § 6-3.1-39.5-5

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 39.5: Employer Child Care Expenditure Credits

Text

As used in this chapter, "recapture event"
means:
(1) the cessation of the operation of the Indiana qualified child
care facility as an Indiana qualified child care facility;
(2) subject to section 12(c) of this chapter, a change in ownership
of an Indiana qualified child care facility for which a credit was
allowed under this chapter, unless the person acquiring an interest
agrees to assume the recapture liability of the person disposing of
an interest; or
(3) the use of an Indiana qualified child care facility for the
enrollment of a child from any individual who is not an employee
of the taxpayer.
The term does not include a cessation of operation or change in
ownership due to accident or casualty.

Legislative History

As added by P.L.201-2023, SEC.103.