"Eligible business"

# (1)

A business that:

# (A)

is engaged in either interstate or intrastate commerce;

# (B)

maintains a corporate headquarters at a location outside Indiana;

# (C)

has not previously maintained a corporate headquarters at a location in Indiana;

# (D)

had annual worldwide revenues of at least fifty million dollars ($50,000,000) for the taxable year immediately preceding the business's application for a tax credit under section 12 of this chapter; and

# (E)

commits contractually to relocating its corporate headquarters to Indiana.

# (2)

A business that:

# (A)

is engaged in either interstate or intrastate commerce;

# (B)

maintains a corporate headquarters at a location outside Indiana;

# (C)

has not previously maintained a corporate headquarters at a location in Indiana;

# (D)

either:

(i) received at least four million dollars ($4,000,000) in venture capital in the six

(6) months immediately preceding the business's application for a tax credit under section 12 of this chapter; or

(ii) closes on at least four million dollars ($4,000,000) in venture capital not later than six (6) months after submitting the business's application for a tax credit under section 12 of this chapter; and

# (E)

commits contractually to relocating:

(i) its corporate headquarters to Indiana; or

(ii) the number of jobs that equals eighty percent (80%) of the business's total payroll during the immediately preceding quarter to a location in Indiana.
As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.8; P.L.288-2013, SEC.62; P.L.158-2019, SEC.20.