Indiana § 5-28-6-9.5 - Prohibition against awarding tax credits; foreign adversary
Full text of Indiana Indiana Code § 5-28-6-9.5 — Prohibition against awarding tax credits; foreign adversary, with citation guidance and answers to common questions.
§ 5-28-6-9.5. Prohibition against awarding tax credits; foreign adversary
Sec. 9.5. (a) As used in this section, "foreign adversary" means a country described in 15 CFR 791.2 as in effect on July 1, 2026.
(b) The corporation may not award an applicable tax credit to a taxpayer if the corporation determines that the taxpayer is:
(1) organized under the laws of a country that is a foreign adversary;
(2) headquartered in a country that is a foreign adversary; or
(3) majority owned by an organization that is an agency or instrumentality of a foreign adversary, or is a business that is an organization that is organized or headquartered under a foreign adversary.
(c) The corporation shall require an applicant to, under penalties of perjury, affirm that the applicant is not prohibited from an award under subsection (b).
(d) If the corporation determines that an award under this section is materially false, the corporation shall:
(1) revoke the awarding of the applicable tax credit; and
(2) require repayment of any benefit received.
As added by P.L.162-2026, SEC.3.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-6-9.5
What does Indiana Code § 5-28-6-9.5 cover?
Section 5-28-6-9.5 ("Prohibition against awarding tax credits; foreign adversary") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 5-28-6-9.5?
A common citation format is "Indiana Code § 5-28-6-9.5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 5-28-6-9.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.