Indiana Code 6-3.1-29-15. Computation of credit amount
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Sec. 15. (a) Subject to section 16 of this chapter, the amount of the credit to which a taxpayer is entitled for a qualified investment in an integrated coal gasification powerplant is equal to the sum of the following:
(2) Five percent (5%) of the amount of the taxpayer’s qualified investment that exceeds five hundred million dollars ($500,000,000) only if the facility is dedicated primarily to serving Indiana retail electric or gas utility consumers.
(1) Ten percent (10%) of the taxpayer’s qualified investment for the first five hundred million dollars ($500,000,000) invested.
Terms Used In Indiana Code 6-3.1-29-15
- fluidized bed combustion technology: means a technology that involves the combustion of fuel in connection with a bed of inert material, such as limestone or dolomite, which is held in a fluid like state by the means of air or other gasses being passed through the materials. See Indiana Code 6-3.1-29-4.5
- integrated coal gasification powerplant: means a facility that satisfies all the following requirements:
Indiana Code 6-3.1-29-6
- qualified investment: means a taxpayer's expenditures for:
Indiana Code 6-3.1-29-10
- taxpayer: means a person, a corporation, a partnership, or other entity that makes a qualified investment. See Indiana Code 6-3.1-29-12
(b) Subject to section 16 of this chapter, the amount of the credit to which a taxpayer is entitled for a qualified investment in a fluidized bed combustion technology is equal to the sum of the following:
(1) Seven percent (7%) of the taxpayer’s qualified investment for the first five hundred million dollars ($500,000,000) invested.
(2) Three percent (3%) of the amount of the taxpayer’s qualified investment that exceeds five hundred million dollars ($500,000,000).
As added by P.L.191-2005, SEC.15. Amended by P.L.122-2006, SEC.13; P.L.175-2007, SEC.5.