Blended biodiesel production credit
Sec. 9. (a) Subject to section 9.5 of this chapter, a taxpayer that
has been certified by the corporation as eligible for a credit under
this section and produces blended biodiesel at a facility located in
Indiana is entitled to a credit against the taxpayer's state tax liability
equal to the product of:
(1) two cents ($0.02); multiplied by
(2) the number of gallons of blended biodiesel:
(A) produced at the Indiana facility; and
(B) blended with biodiesel produced at a facility located in
Indiana.
(b) The total amount of credits allowed a taxpayer (or, if the
person producing the blended biodiesel is a pass through entity, the
shareholders, partners, or members of the pass through entity) under
this section may not exceed three million dollars ($3,000,000) for all
taxable years.
As added by P.L.224-2003, SEC.199. Amended by P.L.191-2005,
SEC.6.
Last modified: May 28, 2006