Indiana Code 6-3.1-39.5-5. “Recapture event”
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Sec. 5. As used in this chapter, “recapture event” means:
(2) subject to section 12(c) of this chapter, a change in ownership of an Indiana qualified child care facility for which a credit was allowed under this chapter, unless the person acquiring an interest agrees to assume the recapture liability of the person disposing of an interest; or
(1) the cessation of the operation of the Indiana qualified child care facility as an Indiana qualified child care facility;
Terms Used In Indiana Code 6-3.1-39.5-5
- Indiana qualified child care facility: means a facility that is:
Indiana Code 6-3.1-39.5-1
- taxpayer: means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and employs one hundred (100) individuals or less. See Indiana Code 6-3.1-39.5-7
(3) the use of an Indiana qualified child care facility for the enrollment of a child from any individual who is not an employee of the taxpayer.
The term does not include a cessation of operation or change in ownership due to accident or casualty.
As added by P.L.201-2023, SEC.103.