Credit for qualified investment; computation of amount;
assignment of credit
Sec. 16. (a) Subject to section 21 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 investment in that year.
(b) The amount of the credit to which a taxpayer is entitled is the
qualified investment made by the taxpayer during the taxable year
multiplied by the applicable percentage.
(c) A taxpayer may assign any part of the credit to which the
taxpayer is entitled under this chapter to a lessee of the industrial
recovery site. A credit that is assigned under this subsection remains
subject to this chapter.
(d) An assignment under subsection (c) must be in writing and
both the taxpayer and the lessee must report the assignment on their
state tax return for the year in which the assignment is made, in the
manner prescribed by the department of revenue. The taxpayer shall
not receive value in connection with the assignment under subsection
(c) that exceeds the value of the part of the credit assigned.
As added by P.L.379-1987(ss), SEC.11. Amended by P.L.8-1996,
SEC.10.
Last modified: May 28, 2006