Section 6-3.1-29-14 - Credit(a) A taxpayer that: (1) is awarded a tax credit under this chapter by the corporation; and(2) complies with the conditions set forth in this chapter and the agreement entered into by the corporation and the taxpayer under this chapter; is entitled to a credit against the taxpayer's state tax liability for a taxable year in which the taxpayer places into service an integrated coal gasification powerplant or a fluidized bed combustion technology and for the taxable years provided in section 16 of this chapter.
(b) A tax credit awarded under this chapter must be applied against the taxpayer's state tax liability in the following order: (1) Against the taxpayer's liability incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax).(2) Against the taxpayer's liability incurred under IC 6-5.5 (the financial institutions tax).(3) Against the taxpayer's liability incurred under IC 27-1-18-2 (the insurance premiums tax).(4) Against the taxpayer's liability incurred under IC 6-2.3 (the utility receipts tax) (before its repeal).Amended by P.L. 138-2022,SEC. 10, eff. 7/1/2022.As added by P.L. 191-2005, SEC.15. Amended by P.L. 122-2006, SEC.12.