The Community Revitalization Enhancement District (CReED) Tax Credit provides an incentive for investment in community revitalization enhancement districts (Ind. Code 36-7-13). The credit is established by Ind. Code 6-3.1-19. Please note that the CReED tax credit is not the same as the CReED financing tool established under Ind. Code 36-7-13.
Calculation and Application of Credit
The credit amount is equal to the amount of qualified investment made by the taxpayer during the taxable year multiplied by 25%. The credit may be passed through (see Ind. Code 6-3.1-19-13). The credit is applied against the taxpayer’s state or local tax liability, and may be carried forward to the immediately following taxable years.
An application must be approved before an investment is made. See the application for additional requirements. Download the application here or in the Additional Materials section.