Section 6-3.1-39.5-5 - "Recapture event"As used in this chapter, "recapture event" means:
(1) the cessation of the operation of the Indiana qualified child care facility as an Indiana qualified child care facility;(2) subject to section 12(c) of this chapter, a change in ownership of an Indiana qualified child care facility for which a credit was allowed under this chapter, unless the person acquiring an interest agrees to assume the recapture liability of the person disposing of an interest; or(3) the use of an Indiana qualified child care facility for the enrollment of a child from any individual who is not an employee of the taxpayer.The term does not include a cessation of operation or change in ownership due to accident or casualty.
Added by P.L. 201-2023,SEC. 103, eff. 1/1/2024.