45 IAC 3.1-1-86 Credit for neighborhood assistance contributions

Authority: IC 6-8.1-3-3

Affected: IC 6-3.1-9

Sec. 86. Neighborhood Assistance Credit. Credit will be allowed to individuals and corporations who make contributions to individuals, groups, or neighborhood organizations in "economically disadvantaged areas" as defined by the Indiana Department of Commerce in Regulation 104-1(K) of the Neighborhood Assistance Credit Program Regulations.

Contributions may consist of cash or goods, job training, education, community services, counseling and advice, crime prevention, housing facilities, emergency assistance, medical care or recreational facilities. Regulation 105-1 of the Neighborhood Assistance Credit Program Regulations issued by the Indiana Department of Commerce stipulates that contributions other than those of cash or goods must be "conducted on a not-for-profit basis only by not-for-profit organizations."

(Department of State Revenue; Reg 6-3-3.1-1(010); filed Oct 15, 1979, 11:15 am: 2 IR 1542; errata, 2 IR 1743)