§ 6-3-1-22-8

(a) Subject to section 14 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability in the taxable year in which the taxpayer completes the preservation or rehabilitation of historic property and obtains the certifications required under section 9 of this chapter.(b) The amount of the credit is equal to twenty percent (20%) of the qualified expenditures that:(1) the taxpayer makes for the preservation or rehabilitation of historic property; and(2) are approved by the office.(c) In the case of a husband and wife who:(1) own and rehabilitate a historic property jointly; and(2) file separate tax returns;the husband and wife may take the credit in equal shares or one (1) spouse may take the whole credit.As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.28.