Section 6-3.1-30-2 - "Eligible business" As used in this chapter, "eligible business" means either of the following:
(1) A business that: (A) is engaged in either interstate or intrastate commerce;(B) maintains a corporate headquarters at a location outside Indiana;(C) has not previously maintained a corporate headquarters at a location in Indiana;(D) had annual worldwide revenues of at least fifty million dollars ($50,000,000) for the taxable year immediately preceding the business's application for a tax credit under section 12 of this chapter; and(E) commits contractually to relocating its corporate headquarters to Indiana.(2) A business that: (A) is engaged in either interstate or intrastate commerce;(B) maintains a corporate headquarters at a location outside Indiana;(C) has not previously maintained a corporate headquarters at a location in Indiana;(D) either: (i) received at least four million dollars ($4,000,000) in venture capital in the six (6) months immediately preceding the business's application for a tax credit under section 12 of this chapter; or(ii) closes on at least four million dollars ($4,000,000) in venture capital not later than six (6) months after submitting the business's application for a tax credit under section 12 of this chapter; and(E) commits contractually to relocating:(i) its corporate headquarters to Indiana; or(ii) the number of jobs that equals eighty percent (80%) of the business's total payroll during the immediately preceding quarter to a location in Indiana.Amended by P.L. 158-2019,SEC. 20, eff. 7/1/2019.Amended by P.L. 288-2013, SEC. 62, eff. 7/1/2013.As added by P.L. 193-2005, SEC.21. Amended by P.L. 137-2006, SEC.8.