Version b
Entitlement of credit
Note: This version of section effective 1-1-2006. See also
preceding version of this section, effective until 1-1-2006.
Sec. 9. (a) Subject to subsection (c), 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 taxable year.
(b) The amount of the credit to which a taxpayer is entitled is the
percentage determined under section 12 of this chapter multiplied by
the amount of the qualified investment made by the taxpayer during
the taxable year.
(c) This subsection applies to a taxpayer making a qualified
investment in a business located in a qualified military base
enhancement area. To qualify for a credit under this chapter, the
taxpayer's qualified investment must be in a business that satisfies at
least one (1) of the following criteria:
(1) The business is a participant in the technology transfer
program conducted by the qualified military base (as defined in
IC 36-7-34-3).
(2) The business is a United States Department of Defense
contractor.
(3) The business and the qualified military base have a mutually
beneficial relationship evidenced by a memorandum of
understanding between the business and the United States
Department of Defense.
As added by P.L.81-2004, SEC.22. Amended by P.L.203-2005,
SEC.6.
Last modified: May 28, 2006