New markets tax credit.

Authors: Representative Jerry Torr


Provides for an Indiana new markets tax credit against state taxes for investments in qualified community development entities that is similar to the federal new markets tax credit. Provides that the Indiana economic development corporation (IEDC) may not approve more than $80,000,000 of qualified equity investments each state fiscal year. Requires the IEDC to submit an annual report on the Indiana new markets tax credit to the budget committee.