(b) The department shall:(1) record the time of filing of each tax return claiming the credit under section 9 of this chapter; and(2) approve the credit, if the business firm or person claiming the credit otherwise qualifies for a tax credit under this chapter, in the chronological order in which the tax return claiming the credit is filed in the state fiscal year.(c) When the total credits approved under this section equal the maximum amount allowable in any state fiscal year, no credits thereafter filed for that same fiscal year shall be approved.As added by P.L.15-1997, SEC.2. Amended by P.L.289-2001, SEC.14; P.L.124-2024, SEC.27.
Indiana Legal Code