Indiana SB0283 amends the regional development tax credit, setting new caps and criteria for awarding credits.

Indiana SB0283 amends the regional development tax credit, setting new caps and criteria for awarding credits. The bill specifies the aggregate amount of applicable tax credits that the Indiana economic development corporation may certify each state fiscal year. For state fiscal years ending on or before June 30, 2025, the cap is set at $250 million, and for those ending on or after July 1, 2025, it increases to $300 million, with $50 million reserved for certain redevelopment sites.

Indiana SB0283 amends the regional development tax credit, setting new caps and criteria for awarding credits.

Indiana SB0283 amends the regional development tax credit, setting new caps and criteria for awarding credits. The bill specifies the aggregate amount of applicable tax credits that the Indiana economic development corporation may certify each state fiscal year. For state fiscal years ending on or before June 30, 2025, the cap is set at $250 million, and for those ending on or after July 1, 2025, it increases to $300 million, with $50 million reserved for certain redevelopment sites.