(a) As used in this chapter, 'substantial presence' means:(1) maintaining a company headquarters in Indiana; or(2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:(1) its headquarters; or(2) seventy-five percent (75%) of its total payroll;to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.As added by P.L.165-2021, SEC.78.
Indiana Legal Code