Title 6, TAXATION

Sec. 13. To receive the credit provided by this chapter, a taxpayer must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department of state revenue. The taxpayer shall submit to the department of state revenue the certificati…

Sec. 14. (a) If a pass through entity does not have state income tax liability against which the tax credit provided by this chapter may be applied, a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to: (1) the tax credit determined fo…

Sec. 15. The aggregate amount of tax credits allowed under this chapter may not exceed twenty-five million dollars ($25,000,000) during the period beginning January 1, 2023, and ending December 31, 2027. As added by P.L.214-2023, SEC.2.

Sec. 16. A tax credit awarded under this chapter is subject to the limitations set forth in IC 5-28-6-9. As added by P.L.214-2023, SEC.2.

Sec. 17. This chapter expires December 31, 2027. The expiration of this chapter on December 31, 2027, does not affect a taxpayer's ability to carry forward the amount of any unused credit awarded before the expiration of this chapter. As added by P.L.214-2023, SEC.2.

Sec. 2. As used in this chapter, "mine reclamation site" means land that has been mined using surface mining methods or underground mining methods, specifically and primarily for the removal of coal, and land contiguous to such previously mined land. As added by P.L.214-2023, SEC…

Sec. 3. As used in this chapter, "qualified investment" means the amount of the taxpayer's expenditures for development of property located within a mine reclamation site. As added by P.L.214-2023, SEC.2.

Sec. 4. As used in this chapter, "state tax liability" means the taxpayer's total tax liability that is incurred under: (1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax); (2) IC 27-1-18-2 (the insurance premiums tax); and (3) IC 6-5.5 (the financial institutions tax);…

Sec. 5. As used in this chapter, "taxpayer" means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of a mine reclamation site. The term includes a lessee that is assigned some part…

Sec. 6. (a) Subject to entering into an agreement with the corporation under section 8 of this chapter and subject to section 11 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability for a taxable year if the taxpayer makes a qualified inv…

Sec. 7. (a) If the amount determined under section 6(b) of this chapter for a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the immediately following taxable years. The amount of the credit carryover from …

Sec. 8. (a) A taxpayer that proposes to make qualified investments on a mine reclamation site as provided under this chapter may apply to the corporation to enter into an agreement for a tax credit under this chapter. (b) The corporation shall prescribe the form of the applicatio…

Sec. 9. The corporation shall consider the following factors in evaluating applications filed under this chapter: (1) The impact in the surrounding community caused by the lack of development at the mine reclamation site. (2) Evidence of support for the designation by residents, …