Version b
Certification of qualified investment action; action required by
taxpayer
Note: This version of section effective 5-15-2005. See also
preceding version of this section, effective until 5-15-2005.
Sec. 12. (a) To be entitled to a credit under this chapter, a
taxpayer must request the department of environmental management
and the Indiana finance authority to determine if costs incurred in a
voluntary remediation involving a brownfield are qualified
investments.
(b) The request under subsection (a) must be made before the
costs are incurred.
(c) Upon receipt of a request under subsection (a), the department
of environmental management and the Indiana finance authority
shall:
(1) examine the costs; and
(2) certify any costs that the department and the authority
determine to be a qualified investment.
(d) Upon completion of a voluntary remediation for which costs
have been certified as a qualified investment under subsection (c),
the taxpayer:
(1) shall notify the department of environmental management;
and
(2) shall request from the department of environmental
management:
(A) with respect to voluntary remediation conducted under
IC 13-25-5, the certificate of completion issued by the
commissioner under IC 13-25-5-16 for the voluntary
remediation work plan under which the costs certified under
subsection (c)(2) were incurred; or
(B) with respect to voluntary remediation not conducted
under IC 13-25-5, a certification of the costs incurred for the
voluntary remediation that are consistent with the costs
certified under subsection (c)(2).
As added by P.L.109-2001, SEC.1. Amended by P.L.245-2003,
SEC.31; P.L.208-2005, SEC.6; P.L.235-2005, SEC.100.
Last modified: May 28, 2006