Sec. 2. As used in this chapter, "eligible business" means either of the following:

(1) A business that:

(A) is engaged in either interstate or intrastate commerce;

(B) maintains a corporate headquarters at a location outside Indiana;

(C) has not previously maintained a corporate headquarters at a location in Indiana;

(D) had annual worldwide revenues of at least fifty million dollars ($50,000,000) for the taxable year immediately preceding the business's application for a tax credit under section 12 of this chapter; and

(E) commits contractually to relocating its corporate headquarters to Indiana.

(2) A business that:

(A) is engaged in either interstate or intrastate commerce;

(B) maintains a corporate headquarters at a location outside Indiana;

(C) has not previously maintained a corporate headquarters at a location in Indiana;

(D) either:

(i) received at least four million dollars ($4,000,000) in venture capital in the six (6) months immediately preceding the business's application for a tax credit under section 12 of this chapter; or

(ii) closes on at least four million dollars ($4,000,000) in venture capital not later than six (6) months after submitting the business's application for a tax credit under section 12 of this chapter; and

(E) commits contractually to relocating:

(i) its corporate headquarters to Indiana; or

(ii) the number of jobs that equals eighty percent (80%) of the business's total payroll during the immediately preceding quarter to a location in Indiana.

As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.8; P.L.288-2013, SEC.62; P.L.158-2019, SEC.20.