Senate Bill 0525
DIGEST OF SB525 (Updated February 27, 2007 3:14 pm - DI 84)
Indiana fueled energy investment tax credit. Creates the Indiana fueled energy investment tax credit for taxpayers that place a new energy production facility that utilizes Indiana fuel into service. Specifies that the total amount of Indiana fueled energy investment tax credits may not exceed $50,000,000 for all taxpayers and all taxable years. Provides that the total amount of ethanol production tax credits for taxpayers that produce at least 40,000,000 gallons of cellulosic ethanol in a year may not exceed $20,000,000 for all taxpayers for all taxable years. Provides that a taxpayer may not sell, assign, convey, or otherwise transfer an ethanol production tax credit. Specifies that for the proposed Indiana fueled energy investment tax credit and the existing coal gasification technology investment tax credit, the Indiana economic development corporation is required to enter into an agreement with an applicant for a credit only if the corporation decides to award a tax credit to the applicant.
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