IC 6-3.1-40-11: Maximum amount of credits allowed; exception

Sec. 11. (a) Subject to subsection (b), the total amount of tax credits awarded under this chapter may not exceed ten million dollars ($10,000,000) in the state fiscal year beginning July 1, 2025, and ending June 30, 2026, and in each state fiscal year thereafter.

(b) For a taxable year beginning after December 31, 2024, and before January 1, 2026, only that part of a taxpayer's tax credit that is attributable to the period of time beginning after June 30, 2025, and before January 1, 2026, is subject to the maximum amount provided in subsection (a).