Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 22 - INVESTMENT DEDUCTION
Rule 2 - Definitions
Section 2-2 - "Creates or retains employment" defined

Universal Citation: 50 IN Admin Code 2-2

Current through September 18, 2024

Authority: IC 6-1.1-12.4-13

Affected: IC 6-1.1-12.4

Sec. 2.

(a) For real property, "creates or retains employment" means a development, redevelopment, or rehabilitation of the real property that:

(1) produces new jobs that were not previously performed; or

(2) maintains existing jobs performed before the development, redevelopment, or rehabilitation of the real property;

by employees located at the site of the real property. The term may also refer to a development, redevelopment, or rehabilitation of real property that keeps an existing business in operation that otherwise would have ceased to maintain operations in Indiana without the development, redevelopment, or rehabilitation even though the total number of jobs that exists after the development, redevelopment, or rehabilitation may be less than before the development, redevelopment, or rehabilitation occurred.

(b) For personal property, "creates or retains employment" means a purchase of personal property other than inventory that:

(1) produces new jobs that were not previously performed; or

(2) maintains existing jobs performed before the purchase of the personal property;

by employees of the owner or lessee of the personal property in Indiana. The term may also refer to a purchase of personal property other than inventory that keeps an existing business in operation that otherwise would have ceased to maintain operations in Indiana without the purchase of the personal property, even though the total number of jobs that exists after the purchase of the personal property may be fewer than before the purchase of personal property occurred.

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