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Senate Bill 0170


Senate Bill 0170

ARCHIVE (2008)

Latest Information

 

DIGEST OF INTRODUCED BILL


Community investment tax credits. Establishes a community investment tax credit against state tax liability for investments that: (1) qualify for a federal new markets tax credit against federal income tax liability; and (2) are made by a certified development entity that agrees: (A) to dedicate 100% of the certified development entity's investments for which the certified development entity may receive a federal new markets tax credit for reinvestment in low income communities in Indiana; (B) to invest at least 80% of the certified development entity's total assets in low income community businesses in Indiana; and (C) to continue to reinvest at least 30% of the last state certified investment in eligible businesses for a period of at least 14 years after the last credit allowance date for the certified development entity's last state certified investment.
    Current Status:
     In Committee - first House
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