Version b
Agreement for tax credit with respect to new job creation;
conditions
Note: This version of section effective 7-1-2005. See also
preceding version of this section, effective until 7-1-2005.
Sec. 15. This section applies to an application proposing a project
to create new jobs in Indiana. After receipt of an application, the
corporation may enter into an agreement with the applicant for a
credit under this chapter if the corporation determines that all of the
following conditions exist:
(1) The applicant's project will create new jobs that were not
jobs previously performed by employees of the applicant in
Indiana.
(2) The applicant's project is economically sound and will
benefit the people of Indiana by increasing opportunities for
employment in Indiana and strengthening the economy of
Indiana.
(3) Receiving the tax credit is a major factor in the applicant's
decision to go forward with the project and not receiving the tax
credit will result in the applicant not creating new jobs in
Indiana.
(4) Awarding the tax credit will result in an overall positive
fiscal impact to the state, as certified by the budget agency
using the best available data.
(5) The credit is not prohibited by section 16 of this chapter.
(6) If the business is located in a community revitalization
enhancement district established under IC 36-7-13 or a certified
technology park established under IC 36-7-32, the legislative
body of the political subdivision establishing the district or park
has adopted an ordinance recommending the granting of a credit
amount that is at least equal to the credit amount provided in the
agreement.
As added by P.L.41-1994, SEC.1. Amended by P.L.178-2002,
SEC.44; P.L.4-2005, SEC.71; P.L.197-2005, SEC.4.
Last modified: May 28, 2006