HB 1612 IN

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Establishes a state tax credit (credit) for certain capital investments made in rural funds. Establishes procedures for a rural fund to apply to the Indiana economic development corporation (IEDC) for certification of a capital investment as eligible for a credit provided by the bill. Requires a rural fund to pay a nonrefundable application fee of $5,000 to the IEDC. Provides that the credit is an amount equal to: (1) the applicable percentage for the credit allowance date; multiplied by (2) the purchase price paid to the rural fund for the capital investment. Sets forth the maximum annual amount of credits that may be certified. Provides that the credit is subject to recapture. Requires a rural fund that has received a credit to submit reports on an annual basis to the IEDC over the credit allowance period.

• Shane Lindauer Republican · author

1. Jan 21, 2025 Authored by Representative Lindauer · lower
2. Jan 21, 2025 First reading: referred to Committee on Ways and Means · lower
3. Jan 27, 2025 Representative Jordan added as coauthor · lower
4. Jan 27, 2025 Representative Commons added as coauthor · lower