Sec. 1. (a) As used in this chapter, “qualified expenditures” means expenditures made by a taxpayer during a particular calendar year on the maintenance or improvement in Indiana of railcars owned or used by the taxpayer.

     (b) The term includes, but is not limited to, the following:

(1) Expenses for:

(A) labor;

(B) materials; or

(C) overhead;

that are incurred by a taxpayer in the maintenance or improvement of a railcar owned or used by the taxpayer.

(2) Payments made by a taxpayer to others for the purpose of performing the maintenance or improvement of a railcar.

As added by P.L.253-1999, SEC.2. Amended by P.L.38-2021, SEC.20.