Introduction
The Voluntary Remediation Tax Credit (VRTC) was established by the Indiana General Assembly to reward taxpayers who conduct voluntary remediation activities at brownfield sites. Remediation activities can be conducted under the oversight of IDEM's Voluntary Remediation Program (VRP), or under supervision of IDEM's Brownfields Section. Environmental remediation paid for with other state financial assistance is not eligible for consideration under the VRTC.
The maximum amount of the credit is equal to the lesser of $100,000 or 10% of the "qualified investment" made during the taxable year. If the amount of the credit exceeds the taxpayer's state tax liability for the year the credit is claimed, the remaining unused credit may be carried forward for no more than the following five (5) taxable years. A total of $1,000,000 per fiscal year will be allocated by the IFA for VRTC assistance, unless demand for the credit merits a higher or lower allocation.
New statutory provisions for the VRTC became effective January 1, 2004. To view the VRTC Guidelines, click here.
To Log In and Apply
- If you are a first time user, click here to establish a confidential username and password.
- If you have already begun a VRTC application, click here to log in and continue your application.
Application Deadline
There is no application deadline. Applications are accepted on a rolling basis.
Need Help?
If you encounter problems at any time during your application efforts, please contact:
- Sara Westrick Corbin: 317-234-1688 or email at swestrick@ifa.in.gov
- Jim McGoff: 317.234.2916 or email at jmcgoff@ifa.in.gov
