Indiana Code Title 6. Taxation § 6-3.1-38.1-13

Sec. 13. (a) A taxpayer may assign any part of the credit that the taxpayer may claim under this chapter.  A credit that is assigned under this section 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.  A taxpayer may make only one (1) assignment of a credit.

(b) An assignment of a credit must be in writing, and both the taxpayer and assignee shall report the assignment on the taxpayer's and 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.

(c) If the transferor is a tax exempt entity, the transfer must be completed on or before the date that is one (1) year after the close of the tax year for which the credit was certified.  As used in this subsection, “tax exempt entity” means a government agency or an organization that is recognized as exempt under section 501(c)(3) of the Internal Revenue Code.