"Substantial presence"

# (1)

maintaining a company headquarters in Indiana; or

# (2)

maintaining at least seventy-five percent (75%) of a company's total payroll in
Indiana.

(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:

(1) its headquarters; or

(2) seventy-five percent (75%) of its total payroll;
to Indiana within one (1) year of receiving qualified investment capital from a qualified
Indiana investment fund.
As added by P.L.165-2021, SEC.78.