Section 6-3.1-24-4.5 - "Substantial presence"(a) As used in this chapter, "substantial presence" means: (1) maintaining a company headquarters in Indiana; or(2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate: (2) seventy-five percent (75%) of its total payroll; to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.
Added by P.L. 165-2021,SEC. 78, eff. 1/1/2022.