"Qualified investment capital" defined
Sec. 3. As used in this chapter, "qualified investment capital"
means debt or equity capital that is provided to a qualified Indiana
business after December 31, 2003. However, the term does not
include debt that:
(1) is provided by a financial institution (as defined in
IC 5-13-4-10) after May 15, 2005; and
(2) is secured by a valid mortgage, security agreement, or other
agreement or document that establishes a collateral or security
position for the financial institution that is senior to all
collateral or security interests of other taxpayers that provide
debt or equity capital to the qualified Indiana business.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.193-2005,
SEC.16.
Last modified: May 28, 2006