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Indiana Code — Title 6 (Taxation)

IC 6-3.1-34.6-10

Maximum annual credit; maximum overall credit

Official textiga.in.govlast amended

Sec. 10. The total amount of the tax credits granted in a particular year to all persons under this chapter may not exceed the lesser of:

# (1)

three million dollars ($3,000,000) per year; or

# (2)

the revenue, as estimated by the budget agency, that is attributable to the imposition of the gross retail and use tax on transactions involving the purchase of a natural gas product (as defined by IC 6-6-2.5-16.5) to fuel a motor vehicle for the year the credit is claimed.

In addition, the tax credits granted for all years to all persons under this chapter may not exceed three (3) times the per year amount under subdivision (1) or (2), whichever applies for a particular year.
As added by P.L.277-2013, SEC.6. Amended by P.L.212-2014, SEC.2.

Amendment history

As added by P.L.277-2013, SEC.6. Amended by P.L.212-2014, SEC.2.

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Nearby sections (25 sections)
  1. 6-3.1-34-21 · Evaluation of the performance of the tax credit program;
  2. 6-3.1-34-22 · Repealed
  3. 6-3.1-34-23 · Credit subject to annual aggregate credit limit
  4. 6-3.1-34.6-1 · Applicability
  5. 6-3.1-34.6-2 · "Department"
  6. 6-3.1-34.6-3 · "Natural gas"
  7. 6-3.1-34.6-4 · "Pass through entity"
  8. 6-3.1-34.6-5 · "Person"
  9. 6-3.1-34.6-6 · "Qualified vehicle"
  10. 6-3.1-34.6-7 · "State tax liability"
  11. 6-3.1-34.6-8 · Credit claims; credit amounts; claims for vehicles…
  12. 6-3.1-34.6-9 · Maximum credit amount for vehicles placed into service in
  13. 6-3.1-34.6-10 · Maximum annual credit; maximum overall credit
  14. 6-3.1-34.6-11 · Claiming credit; pass through entity
  15. 6-3.1-34.6-12 · Procedure to claim credit
  16. 6-3.1-34.6-13 · Credit carryover; no carryback or refund
  17. 6-3.1-34.6-14 · Credit sale, assignment, or transfer prohibited
  18. 6-3.1-35-1 · Applicability; applications
  19. 6-3.1-35-2 · Definitions
  20. 6-3.1-35-3 · Amount of credit; computation
  21. 6-3.1-35-4 · Credit carryover
  22. 6-3.1-35-5 · Allocation of the credit by pass through entities that do…
  23. 6-3.1-35-6 · Credit assignment
  24. 6-3.1-35-7 · Requirements to be awarded a credit; maximum amount of
  25. 6-3.1-35-8 · Annual aggregate credit limit
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