1. (a) Except as provided by subsection (b), an individual who is eligible for an earned income tax credit under Section 32 of the Internal Revenue Code as it existed before being amended by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (P.L. 111-312), is eligible for a credit under this chapter equal to nine percent (9%) of the amount of the federal earned income tax credit that the individual:

   1. (1) is eligible to receive in the taxable year; and

   2. (2) claimed for the taxable year;

      under Section 32 of the Internal Revenue Code as it existed before being amended by the Tax Relief. Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (P.L. 111-312).

2. (b) In the case of a nonresident taxpayer or a resident taxpayer residing in Indiana for a period of less than the taxpayer's entire taxable year, the amount of the credit is equal to the product of:

   1. (1) the amount determined under subsection (a); multiplied by
   2. (2) the quotient of the taxpayer's income taxable in Indiana divided by the taxpayer's total income.
3. (c) If the credit amount exceeds the taxpayer's adjusted gross income tax liability for the taxable year, the excess shall be refunded to the taxpayer.

As added by P.L.273-1999, SEC.227. Amended by P.L.192-2002(ss), SEC.114; P.L.131-2008, SEC.17; P.L.146-2008, SEC.325; P.L.1-2009, SEC.52; P.L.229-2011, SEC.87; P.L.242-2015, SEC.23.