Ind. Code ch. 6-3.1-36

in effect

Ind. Code § 6-3.1-36-1 "Corporation"

Sec. 1. As used in this chapter, "corporation" refers to the Indiana economic development corporation established by IC 5-28-3-1. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-2 "Qualified applicant"

Sec. 2. As used in this chapter, "qualified applicant" means a person, corporation, limited liability partnership, limited liability company, or other entity that is engaged in the business of making a qualified media production in Indiana. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-3 "Qualified media production"

Sec. 3. As used in this chapter, "qualified media production" means: (1) a feature length film, including an independent or studio production, or a documentary; (2) a television episodic series, program, or feature; (3) a music production; (4) a digital media production that is intended for reasonable commercial exploitation; or (5) any other similar production as determined by the corporation; that is produced in Indiana. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-4 "Qualified production expenses"

Sec. 4. As used in this chapter, "qualified production expenses" means expenses incurred by a qualified applicant for a qualified media production. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-5 "State tax liability"

Sec. 5. As used in this chapter, "state tax liability" means a taxpayer's total tax liability that is incurred under: (1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax); and (2) IC 6-5.5 (the financial institutions tax); as computed after the application of the credits that under IC 6-3.1-1-2 are to be applied before the credit provided by this chapter. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-6 "Taxpayer"

Sec. 6. As used in this chapter, "taxpayer" means a qualified applicant that has any state tax liability. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-7 Application for tax credit; certification of eligibility

Sec. 7. (a) A qualified applicant may apply to the corporation for a tax credit under this chapter. The corporation shall prescribe the form and contents of the application. (b) The corporation shall evaluate an applicant's eligibility for a tax credit under this chapter. (c) The corporation may certify the eligibility of a taxpayer that meets the requirements for a tax credit under this chapter. (d) If the corporation certifies a taxpayer under subsection (c), the corporation shall determine the percentage used to calculate the amount of a tax credit under section 8(2) of this chapter. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-8 Determination of tax credit amount

Sec. 8. If the corporation certifies a taxpayer under section 7(c) of this chapter, the taxpayer is entitled to a tax credit under this chapter equal to: (1) the amount of the taxpayer's qualified production expenses; multiplied by (2) a percentage determined by the corporation, not to exceed thirty percent (30%). As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-9 Pass through entity; shareholder, partner, or member

Sec. 9. If a pass through entity is entitled to a credit under section 8 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, member, or beneficiary of the pass through entity is entitled to a tax credit equal to: (1) the tax credit determined for the pass through entity for the taxable year; multiplied by (2) the percentage of the pass through entity's distributive income to which the shareholder, partner, member, or beneficiary is entitled. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-10 Claiming of credit on state tax return

Sec. 10. To receive the credit provided by this chapter, a taxpayer must claim the credit on the taxpayer's state tax return or returns in the manner prescribed by the department. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-11 Credit carryover

Sec. 11. (a) The amount of the credit provided by this chapter that a taxpayer uses during a particular taxable year may not exceed the state tax liability of the taxpayer. (b) If the credit provided by this chapter exceeds the taxpayer's state tax liability for the first taxable year containing the taxable year for which the corporation awards the credit, then the excess may be carried over to succeeding taxable years and used as a credit against the state tax liability of the taxpayer during those taxable years. (c) Each time that the credit is carried over to a succeeding taxable year, it is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for nine (9) taxable years following the first taxable year containing the taxable year for which the corporation awards the credit. (d) If a taxpayer fails to claim a credit under this chapter for a year in which the taxpayer is otherwise permitted to claim the credit, the credit will be considered to be used for purposes of subsection (c). As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-11.5 Credit assignability

Sec. 11.5. (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) 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. (c) 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. As added by P.L.78-2025, SEC.1.

Ind. Code § 6-3.1-36-11.7 Credit limitation

Sec. 11.7. (a) Any single credit provided by this chapter may not exceed two hundred fifty thousand dollars ($250,000). (b) The aggregate amount of credits provided by this chapter before its expiration may not exceed two million dollars ($2,000,000). As added by P.L.78-2025, SEC.2.

Ind. Code § 6-3.1-36-12 Credit subject to annual aggregate credit limit

Sec. 12. A tax credit awarded under this chapter is subject to the limitations set forth in IC 5-28-6-9. As added by P.L.135-2022, SEC.19.

Ind. Code § 6-3.1-36-13 Expiration

Sec. 13. This chapter expires July 1, 2031. As added by P.L.135-2022, SEC.19. Amended by P.L.78-2025, SEC.3.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/6Fetched: 10/17/2026