DIGEST OF INTRODUCED BILL
Tax credit for brownfield program. Allows a credit against state tax liability for certain voluntary environmental remediation costs. Limits the credit to $1,000,000 statewide. Provides that the credit amount for each year shall be deducted from the industrial development grant fund and the environmental remediation revolving loan fund subaccount to replenish the state general fund. Provides that the department of environmental management shall share administrative duties with the Indiana development finance authority. Provides that no new tax credits are allowed for tax years beginning after December 31, 2002.