IC 6-3.1-30.5
Chapter 30.5. School Scholarship Tax Credit
IC 6-3.1-30.5-1 "Credit"
Sec. 1. As used in this chapter, "credit" refers to a credit granted
under this chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-2 "Pass through entity"
Sec. 2. As used in this chapter, "pass through entity" has the
meaning set forth in IC 6-3-1-35. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-3 "Scholarship granting organization"
Sec. 3. As used in this chapter, "scholarship granting
organization" refers to an organization that:
(1) is exempt from federal income taxation under Section
501(c)(3) of the Internal Revenue Code; and
(2) conducts a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-4 "School scholarship program"
Sec. 4. As used in this chapter, "school scholarship program"
refers to a scholarship program certified by the department of
education under IC 20-51. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-5 "State tax liability"
Sec. 5. As used in this chapter, "state tax liability" means a
taxpayer's total tax liability that is incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(2) IC 6-5.5 (the financial institutions tax); and
(3) IC 27-1-18-2 (the insurance premiums tax);
as computed after the application of the credits that under
IC 6-3.1-1-2 are to be applied before the credit provided by this
chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-6 "Taxpayer"
Sec. 6. As used in this chapter, "taxpayer" means an individual or
entity that has any state tax liability. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-7 Credit
Sec. 7. A taxpayer that makes a contribution to a scholarship
granting organization for use by the scholarship granting
organization in a school scholarship program is entitled to a credit
against the taxpayer's state tax liability in the taxable year in which
the taxpayer makes the contribution. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-8 Amount of credit
Sec. 8. The amount of a taxpayer's credit is equal to fifty percent
(50%) of the amount of the contribution made to the scholarship
granting organization for a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-9 Carryover, carryback, or refund not allowed
Sec. 9. A taxpayer is not entitled to a carryover, carryback, or
refund of an unused credit. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-10 Pass through entities
Sec. 10. If a pass through entity is entitled to a credit under
section 7 of this chapter but does not have state tax liability against
which the tax credit may be applied, a shareholder, partner, or
member of the pass through entity is entitled to a tax credit equal to:
(1) the tax credit determined for the pass through entity for the
taxable year; multiplied by
(2) the percentage of the pass through entity's distributive
income to which the shareholder, partner, or member is entitled. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-11 Claim of credit; submission of information
Sec. 11. To apply a credit against the taxpayer's state tax liability,
a taxpayer must claim the credit on the taxpayer's annual state tax
return or returns in the manner prescribed by the department. The
taxpayer shall submit to the department the information that the
department determines is necessary for the department to determine
whether the taxpayer is eligible for the credit. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-12 Use of contribution
Sec. 12. A contribution shall be treated as having been made for
use in a school scholarship program if:
(1) the contribution is made directly to a scholarship granting
organization; and
(2) either:
(A) not later than the date of the contribution, the taxpayer
designates in writing to the scholarship granting organization
that the contribution is to be used only for a school
scholarship program; or
(B) the scholarship granting organization provides the
taxpayer with written confirmation that the contribution will
be dedicated solely for use in a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-13 Maximum amount of credit
Sec. 13. The total amount of tax credits awarded under this
chapter may not exceed two million five hundred thousand dollars
($2,500,000) in any state fiscal year. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-14 Information posted by the department
Sec. 14. The department, on an Internet web site used by the
department to provide information to the public, shall provide the
following information:
(1) The application for the credit provided in this chapter.
(2) A timeline for receiving the credit provided in this chapter.
(3) The total amount of credits awarded under this chapter
during the current state fiscal year. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-15 Adoption of rules
Sec. 15. The department shall adopt rules under IC 4-22-2 to
implement this chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5
Chapter 30.5. School Scholarship Tax Credit
IC 6-3.1-30.5-1 "Credit"
Sec. 1. As used in this chapter, "credit" refers to a credit granted
under this chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-2 "Pass through entity"
Sec. 2. As used in this chapter, "pass through entity" has the
meaning set forth in IC 6-3-1-35. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-3 "Scholarship granting organization"
Sec. 3. As used in this chapter, "scholarship granting
organization" refers to an organization that:
(1) is exempt from federal income taxation under Section
501(c)(3) of the Internal Revenue Code; and
(2) conducts a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-4 "School scholarship program"
Sec. 4. As used in this chapter, "school scholarship program"
refers to a scholarship program certified by the department of
education under IC 20-51. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-5 "State tax liability"
Sec. 5. As used in this chapter, "state tax liability" means a
taxpayer's total tax liability that is incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(2) IC 6-5.5 (the financial institutions tax); and
(3) IC 27-1-18-2 (the insurance premiums tax);
as computed after the application of the credits that under
IC 6-3.1-1-2 are to be applied before the credit provided by this
chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-6 "Taxpayer"
Sec. 6. As used in this chapter, "taxpayer" means an individual or
entity that has any state tax liability. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-7 Credit
Sec. 7. A taxpayer that makes a contribution to a scholarship
granting organization for use by the scholarship granting
organization in a school scholarship program is entitled to a credit
against the taxpayer's state tax liability in the taxable year in which
the taxpayer makes the contribution. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-8 Amount of credit
Sec. 8. The amount of a taxpayer's credit is equal to fifty percent
(50%) of the amount of the contribution made to the scholarship
granting organization for a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-9 Carryover, carryback, or refund not allowed
Sec. 9. A taxpayer is not entitled to a carryover, carryback, or
refund of an unused credit. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-10 Pass through entities
Sec. 10. If a pass through entity is entitled to a credit under
section 7 of this chapter but does not have state tax liability against
which the tax credit may be applied, a shareholder, partner, or
member of the pass through entity is entitled to a tax credit equal to:
(1) the tax credit determined for the pass through entity for the
taxable year; multiplied by
(2) the percentage of the pass through entity's distributive
income to which the shareholder, partner, or member is entitled. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-11 Claim of credit; submission of information
Sec. 11. To apply a credit against the taxpayer's state tax liability,
a taxpayer must claim the credit on the taxpayer's annual state tax
return or returns in the manner prescribed by the department. The
taxpayer shall submit to the department the information that the
department determines is necessary for the department to determine
whether the taxpayer is eligible for the credit. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-12 Use of contribution
Sec. 12. A contribution shall be treated as having been made for
use in a school scholarship program if:
(1) the contribution is made directly to a scholarship granting
organization; and
(2) either:
(A) not later than the date of the contribution, the taxpayer
designates in writing to the scholarship granting organization
that the contribution is to be used only for a school
scholarship program; or
(B) the scholarship granting organization provides the
taxpayer with written confirmation that the contribution will
be dedicated solely for use in a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-13 Maximum amount of credit
Sec. 13. The total amount of tax credits awarded under this
chapter may not exceed two million five hundred thousand dollars
($2,500,000) in any state fiscal year. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-14 Information posted by the department
Sec. 14. The department, on an Internet web site used by the
department to provide information to the public, shall provide the
following information:
(1) The application for the credit provided in this chapter.
(2) A timeline for receiving the credit provided in this chapter.
(3) The total amount of credits awarded under this chapter
during the current state fiscal year. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-15 Adoption of rules
Sec. 15. The department shall adopt rules under IC 4-22-2 to
implement this chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5
Chapter 30.5. School Scholarship Tax Credit
IC 6-3.1-30.5-1 "Credit"
Sec. 1. As used in this chapter, "credit" refers to a credit granted
under this chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-2 "Pass through entity"
Sec. 2. As used in this chapter, "pass through entity" has the
meaning set forth in IC 6-3-1-35. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-3 "Scholarship granting organization"
Sec. 3. As used in this chapter, "scholarship granting
organization" refers to an organization that:
(1) is exempt from federal income taxation under Section
501(c)(3) of the Internal Revenue Code; and
(2) conducts a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-4 "School scholarship program"
Sec. 4. As used in this chapter, "school scholarship program"
refers to a scholarship program certified by the department of
education under IC 20-51. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-5 "State tax liability"
Sec. 5. As used in this chapter, "state tax liability" means a
taxpayer's total tax liability that is incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(2) IC 6-5.5 (the financial institutions tax); and
(3) IC 27-1-18-2 (the insurance premiums tax);
as computed after the application of the credits that under
IC 6-3.1-1-2 are to be applied before the credit provided by this
chapter. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-6 "Taxpayer"
Sec. 6. As used in this chapter, "taxpayer" means an individual or
entity that has any state tax liability. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-7 Credit
Sec. 7. A taxpayer that makes a contribution to a scholarship
granting organization for use by the scholarship granting
organization in a school scholarship program is entitled to a credit
against the taxpayer's state tax liability in the taxable year in which
the taxpayer makes the contribution. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-8 Amount of credit
Sec. 8. The amount of a taxpayer's credit is equal to fifty percent
(50%) of the amount of the contribution made to the scholarship
granting organization for a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-9 Carryover, carryback, or refund not allowed
Sec. 9. A taxpayer is not entitled to a carryover, carryback, or
refund of an unused credit. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-10 Pass through entities
Sec. 10. If a pass through entity is entitled to a credit under
section 7 of this chapter but does not have state tax liability against
which the tax credit may be applied, a shareholder, partner, or
member of the pass through entity is entitled to a tax credit equal to:
(1) the tax credit determined for the pass through entity for the
taxable year; multiplied by
(2) the percentage of the pass through entity's distributive
income to which the shareholder, partner, or member is entitled. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-11 Claim of credit; submission of information
Sec. 11. To apply a credit against the taxpayer's state tax liability,
a taxpayer must claim the credit on the taxpayer's annual state tax
return or returns in the manner prescribed by the department. The
taxpayer shall submit to the department the information that the
department determines is necessary for the department to determine
whether the taxpayer is eligible for the credit. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-12 Use of contribution
Sec. 12. A contribution shall be treated as having been made for
use in a school scholarship program if:
(1) the contribution is made directly to a scholarship granting
organization; and
(2) either:
(A) not later than the date of the contribution, the taxpayer
designates in writing to the scholarship granting organization
that the contribution is to be used only for a school
scholarship program; or
(B) the scholarship granting organization provides the
taxpayer with written confirmation that the contribution will
be dedicated solely for use in a school scholarship program. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-13 Maximum amount of credit
Sec. 13. The total amount of tax credits awarded under this
chapter may not exceed two million five hundred thousand dollars
($2,500,000) in any state fiscal year. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-14 Information posted by the department
Sec. 14. The department, on an Internet web site used by the
department to provide information to the public, shall provide the
following information:
(1) The application for the credit provided in this chapter.
(2) A timeline for receiving the credit provided in this chapter.
(3) The total amount of credits awarded under this chapter
during the current state fiscal year. As added by P.L.182-2009(ss), SEC.205.
IC 6-3.1-30.5-15 Adoption of rules
Sec. 15. The department shall adopt rules under IC 4-22-2 to
implement this chapter. As added by P.L.182-2009(ss), SEC.205.
