Maximum amount of credits

Official textiga.in.govlast amended 2023

Sec. 13.

# (a)

The total amount of tax credits awarded under this chapter may not exceed four million dollars ($4,000,000) in each state fiscal year. However, any amounts carried forward under section 9(a) of this chapter shall first be deducted from the total amount of tax credits that may be awarded for the succeeding state fiscal year.

# (b)

The department shall record the time of filing of each claim for a credit under this chapter and shall approve the credits, if they otherwise qualify, in the chronological order in which the claims for the credit are filed in the state fiscal year.
As added by P.L.201-2023, SEC.104.

Amendment history

As added by P.L.201-2023, SEC.104.

Source: view the official text

Nearby sections (25 sections)

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…
6-3.1-40.9-12 · Claiming the credit
6-3.1-40.9-13 · Maximum amount of credits
6-3.1-40.9-14 · Information concerning the credit on the department…
6-3.1-40.9-15 · Adoption of rules
6-3.1-40.9-16 · Expiration
6-3.1-45-1 · Applicability
6-3.1-45-2 · "Department"
6-3.1-45-3 · "Qualified investment"
6-3.1-45-4 · "Small modular nuclear reactor"
6-3.1-45-5 · "State tax liability"
6-3.1-45-6 · "Taxpayer"
6-3.1-45-7 · Credit for qualified investment; amount of credit
6-3.1-45-8 · Carryover of excess credit; taxpayer not entitled to…
6-3.1-45-9 · Pass through entity without state tax liability; tax…

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