CHAPTER 1. DEFINITIONS; PRIORITY OF CREDITS

IC 6-3.1
    ARTICLE 3.1. STATE TAX LIABILITY CREDITS

IC 6-3.1-1
    Chapter 1. Definitions; Priority of Credits

IC 6-3.1-1-1
Definitions; application
    Sec. 1. Except as otherwise provided in this article, the definitionscontained in IC 6-3-1 apply throughout this article.
As added by P.L.51-1984, SEC.1.

IC 6-3.1-1-2
Order of application
    Sec. 2. (a) The tax credits a taxpayer is entitled to shall be appliedagainst the taxpayer's tax liabilities in the following order:
        (1) First, credits which may not be refunded to a taxpayer norcarried over and applied against any tax liability for anysucceeding taxable year.
        (2) Second, credits which may not be refunded to a taxpayer,but which may be carried over and applied against any taxliability for any succeeding taxable year.
        (3) Third, credits which will be refunded to a taxpayer to theextent the credit exceeds the tax liability it is to be appliedagainst.
    (b) Credits described in subsection (a)(2) shall be applied againsta taxpayer's tax liabilities so that the credits which may be applied tothe fewest succeeding taxable years are utilized first.
As added by P.L.51-1984, SEC.1.

IC 6-3.1-1-3
Limitation on number of credits granted; election by taxpayer
    Sec. 3. A taxpayer (as defined in the following laws), pass throughentity (as defined in the following laws), or shareholder, partner, ormember of a pass through entity may not be granted more than one(1) tax credit under the following laws for the same project:
        (1) IC 6-3.1-10 (enterprise zone investment cost credit).
        (2) IC 6-3.1-11 (industrial recovery tax credit).
        (3) IC 6-3.1-11.5 (military base recovery tax credit).
        (4) IC 6-3.1-11.6 (military base investment cost credit).
        (5) IC 6-3.1-13.5 (capital investment tax credit).
        (6) IC 6-3.1-19 (community revitalization enhancement districttax credit).
        (7) IC 6-3.1-24 (venture capital investment tax credit).
        (8) IC 6-3.1-26 (Hoosier business investment tax credit).
        (9) IC 6-3.1-31.9 (Hoosier alternative fuel vehicle manufacturertax credit).
If a taxpayer, pass through entity, or shareholder, partner, or memberof a pass through entity has been granted more than one (1) tax creditfor the same project, the taxpayer, pass through entity, or

shareholder, partner, or member of a pass through entity must electto apply only one (1) of the tax credits in the manner and formprescribed by the department.
As added by P.L.199-2005, SEC.17. Amended by P.L.223-2007,SEC.3.