House Bill 1069 Summary

• Authorizes shareholders, partners, or members of pass-through entities to claim industrial recovery tax credits if the entity lacks state income tax liability to apply credits against

• Allows individual owners to claim a tax credit equal to the entity's determined credit multiplied by their percentage ownership of the entity's distributive income

• Provides that credits claimed by individual owners are in addition to any other tax credits they may be entitled to under the industrial recovery tax credit chapter

• Establishes "pass through entity" definition by reference to IC 6-3-1-35

• Makes provisions effective retroactively to January 1, 2014