1. (a) As used in this chapter, "substantial presence" means:

   1. (1) maintaining a company headquarters in Indiana; or
   2. (2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.

2. (b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:

   1. (1) its headquarters; or

   2. (2) seventy-five percent (75%) of its total payroll;

      to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.

As added by P.L.165-2021, SEC.78.