Indiana Code 6-3.1-9-2. Eligible persons; application for allocation of tax credits; approval
(1) neighborhood assistance, job training, or education for individuals not employed by the business firm or person;
Terms Used In Indiana Code 6-3.1-9-2
- authority: means the Indiana housing and community development authority established by IC 5-20-1-3. See Indiana Code 6-3.1-9-1
- business firm: means any business entity authorized to do business in the state of Indiana that has state tax liability. See Indiana Code 6-3.1-9-1
- community services: means any type of:
Indiana Code 6-3.1-9-1
- crime prevention: means any activity which aids in the reduction of crime in an economically disadvantaged area or an economically disadvantaged household. See Indiana Code 6-3.1-9-1
- economically disadvantaged area: means an enterprise zone, or any other federally or locally designated economically disadvantaged area in Indiana. See Indiana Code 6-3.1-9-1
- education: means any type of scholastic instruction or scholarship assistance to an individual who:
Indiana Code 6-3.1-9-1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- job training: means any type of instruction to an individual who:
Indiana Code 6-3.1-9-1
- neighborhood assistance: means either:
Indiana Code 6-3.1-9-1
- neighborhood organization: means any organization, including but not limited to a nonprofit development corporation doing both of the following:
Indiana Code 6-3.1-9-1
- person: means any individual subject to Indiana adjusted gross income tax. See Indiana Code 6-3.1-9-1
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- tax credit: means a deduction from any tax otherwise due and payable under IC 6-3 or Indiana Code 6-3.1-9-1
(3) community services, education, or job training services to individuals who are ex-offenders who have completed the individuals’ criminal sentences or are serving a term of probation or parole;
may apply to the authority for an allocation of state tax credits available under this chapter to be used to provide a tax credit to a business firm or person that contributes to a program involving one (1) or more of the activities described in subdivisions (1) through (3).
(b) The authority, after consultation with the commissioner of revenue, may adopt rules for the approval or disapproval of these applications.
(c) A business firm or a person that contributes to the fund of a neighborhood organization that has been approved by the authority for an allocation of tax credits as described in subsection (a) shall receive a tax credit as provided in section 3 of this chapter if the neighborhood organization has agreed to issue a portion of the tax credits allocated to the neighborhood organization by the authority to the business firm or person.
As added by P.L.51-1984, SEC.1. Amended by P.L.4-2005, SEC.54; P.L.235-2005, SEC.96; P.L.1-2006, SEC.141; P.L.181-2006, SEC.45; P.L.1-2007, SEC.55; P.L.166-2014, SEC.12; P.L.124-2024, SEC.15.