Sec. 16. (a) Subject to entering into an agreement with the corporation under section 19.5 of this chapter and subject to section 21 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state
tax liability for a taxable year if the taxpayer makes a qualified investment as certified
by the corporation for that year.
(b) The amount of the credit to which a taxpayer is entitled is the qualified investment
made by the taxpayer and certified by the corporation for a taxable year multiplied
by the applicable percentage.
(c) The taxpayer may assign any part of the credit that the taxpayer may claim under
this chapter. A credit that is assigned under this subsection remains subject to this chapter. If a taxpayer assigns a part of a credit during a taxable year, the assignee may
not subsequently assign all or part of the credit to another taxpayer. Nothing in this subsection shall prohibit a taxpayer from making more than one (1)
assignment of any part of the credit, but a taxpayer may not assign the same part
of a credit more than once.
(d) Before a credit may be assigned, the taxpayer must notify the corporation of the
assignment of the credit in the manner prescribed by the corporation. An assignment of a credit must be in writing, and both the taxpayer and assignee
shall report the assignment on the taxpayer's and the assignee's state tax returns
for the year in which the assignment is made, in the manner prescribed by the department. A taxpayer may not receive value in connection with an assignment under this section
that exceeds the value of the part of the credit assigned.
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