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Indiana Code — Title 6 (Taxation)

IC 6-3.1-26-18

Agreement for credit; conditions

Official textiga.in.govlast amended

Sec. 18. After receipt of an application, the corporation may enter into an agreement with the applicant for a credit under this chapter if the corporation determines that all the following conditions exist:

# (1)

The applicant's project will:

# (A)

raise the total earnings of employees of the applicant in Indiana; or

# (B)

substantially enhance the logistics industry by creating new jobs, preserving existing jobs that otherwise would be lost, increasing wages in Indiana, or improving the overall Indiana economy, in the case of a logistics investment being claimed by the applicant.

# (2)

The applicant's project is economically sound and will benefit the people of Indiana by increasing opportunities for employment and strengthening the economy of Indiana.

# (3)

Receiving the tax credit is a major factor in the applicant's decision to go forward with the project and not receiving the tax credit will result in the applicant not raising the total earnings of the applicant's employees in Indiana, or other employees in Indiana in the case of a logistics investment being claimed by the applicant.

# (4)

Awarding the tax credit will result in an overall positive fiscal impact to the state, as certified by the budget agency using the best available data.

# (5)

The credit is not prohibited by section 19 of this chapter.

# (6)

In the case of a qualified investment that is not being claimed as a logistics investment by the applicant, the average wage that will be paid by the taxpayer to its employees (excluding highly compensated employees) at the location after the credit is given will be at least equal to one hundred fifty percent (150%) of the hourly minimum wage under IC 22-2-2-4 or its equivalent.
As added by P.L.224-2003, SEC.197. Amended by P.L.4-2005, SEC.107; P.L.199-2005, SEC.23; P.L.1-2006, SEC.143; P.L.288-2013, SEC.56.

Amendment history

As added by P.L.224-2003, SEC.197. Amended by P.L.4-2005, SEC.107; P.L.199-2005, SEC.23; P.L.1-2006, SEC.143; P.L.288-2013, SEC.56.

Source: view the official text

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Nearby sections (25 sections)
  1. 6-3.1-26-7 · "Pass through entity"
  2. 6-3.1-26-8 · "Qualified investment"
  3. 6-3.1-26-8.5 · "Logistics investment"
  4. 6-3.1-26-9 · "State tax liability"
  5. 6-3.1-26-10 · Repealed
  6. 6-3.1-26-11 · "Taxpayer"
  7. 6-3.1-26-12 · Purpose of credit
  8. 6-3.1-26-13 · Entitlement to credit
  9. 6-3.1-26-14 · Amount of credit
  10. 6-3.1-26-15 · Carry forward of credit; acceleration of certain credits
  11. 6-3.1-26-16 · Shareholder or partner entitled to credit; acceleration of
  12. 6-3.1-26-17 · Application
  13. 6-3.1-26-18 · Agreement for credit; conditions
  14. 6-3.1-26-19 · Credit disallowed for relocated jobs
  15. 6-3.1-26-20 · Certification of qualified investments
  16. 6-3.1-26-21 · Agreement for credit; contents
  17. 6-3.1-26-22 · Certificate of verification
  18. 6-3.1-26-23 · Noncompliance with agreement; assessments
  19. 6-3.1-26-24 · Repealed
  20. 6-3.1-26-25 · Biennial evaluation; reporting requirements
  21. 6-3.1-26-26 · Repealed
  22. 6-3.1-26-27 · Credit subject to annual aggregate credit limit
  23. 6-3.1-29-0.1 · Application of chapter; severability
  24. 6-3.1-29-1 · Legislative intent; use of women and minority businesses as
  25. 6-3.1-29-2 · "Commission"
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