Disallowance of credit; employer's duty
Sec. 4. (a) The department shall disallow a credit provided under
this chapter with respect to employment of an eligible teacher during
a school summer recess if the teacher discontinues his teaching
duties for the purpose of becoming employed by the taxpayer during
the regular school term that immediately follows the recess. The
taxpayer shall, within thirty (30) days after the eligible teacher had
discontinued his teaching duties, notify the department of that fact
and pay to the department the amount of the credit previously
allowed.
(b) A taxpayer that fails to notify and pay the department as
prescribed in subsection (a) is liable for interest and a penalty on the
amount of the credit in the amounts established in IC 6-8.1-10-1 and
IC 6-8.1-10-2.1.
As added by P.L.51-1984, SEC.1. Amended by P.L.1-1991, SEC.53.
Last modified: May 28, 2006