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Community investment tax credits. Establishes a community investment tax credit against state tax liability for investments that: (1) qualify for a federal new market tax credit against federal income tax liability; and (2) are made in a community investment entity that agrees to reinvest 100% of its allocation of federal new market tax credits for low income communities in Indiana and at least: (A) 30% of the money that is certified by the Indiana economic development corporation for state community investment tax credits; and (B) 80% of its total assets in low income community businesses in Indiana.
