Indiana Code — Title 6 (Taxation)
IC 6-3.1-40-11
Maximum amount of credits allowed; exception
Official textiga.in.govlast amended
Sec. 11.
# (a)
Subject to subsection (b), the total amount of tax credits awarded under this chapter may not exceed ten million dollars ($10,000,000) in the state fiscal year beginning July 1, 2025, and ending June 30, 2026, and in each state fiscal year thereafter.
# (b)
For a taxable year beginning after December 31, 2024, and before January 1, 2026, only that part of a taxpayer's tax credit that is attributable to the period of time beginning after June 30, 2025, and before January 1, 2026, is subject to the maximum amount provided in subsection (a).
As added by P.L.230-2025, SEC.78.
Amendment history
As added by P.L.230-2025, SEC.78.
Source: view the official text
Nearby sections (25 sections)
- 6-3.1-39.5-15 · Expiration
- 6-3.1-40-1 · Applicability
- 6-3.1-40-2 · "Physician"
- 6-3.1-40-3 · Repealed
- 6-3.1-40-4 · "State income tax liability"
- 6-3.1-40-5 · "Taxpayer"
- 6-3.1-40-6 · Credit; eligibility; amount
- 6-3.1-40-7 · Allowable years of credit
- 6-3.1-40-8 · Credit carryover; carryback or refund of unused credit;
- 6-3.1-40-9 · Repealed
- 6-3.1-40-9.5 · Claiming credit on tax return; certified list of…
- 6-3.1-40-10 · Assessments
- 6-3.1-40-11 · Maximum amount of credits allowed; exception
- 6-3.1-40-12 · Department website; information required to be provided to
- 6-3.1-40.9-1 · "Affordable housing organization"
- 6-3.1-40.9-2 · "Corporation"
- 6-3.1-40.9-3 · "Credit"
- 6-3.1-40.9-4 · "Pass through entity"
- 6-3.1-40.9-5 · "State tax liability"
- 6-3.1-40.9-6 · "Taxpayer"
- 6-3.1-40.9-7 · Entitlement to credit
- 6-3.1-40.9-8 · Amount of credit
- 6-3.1-40.9-9 · Carry forward of credit
- 6-3.1-40.9-10 · Shareholder, partner, or member entitled to credit
- 6-3.1-40.9-11 · Application for approval as an affordable housing…