The Community Revitalization Enhancement District (CReED) tax credit entitles a taxpayer to a 25% credit against the taxpayer's state and local tax liability for a taxable year if the taxpayer makes a qualified investment in that year. The investment must be for the redevelopment or rehabilitation of property located within a CReED designated under IC 36-7-13 and must be approved by the Indiana Department of Commerce (IDOC) before the investment is made.
Examples of "qualified investments" include:
- A taxpayer's investment that is used for redeveloping or rehabilitating property located within a CReED for the purposes of constructing, reconstructing, or repairing:
- Heating/ Cooling Units