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

1. (1) A business that:

   1. (A) is engaged in either interstate or intrastate commerce;
   2. (B) maintains a corporate headquarters at a location outside Indiana;
   3. (C) has not previously maintained a corporate headquarters at a location in Indiana;
   4. (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
   5. (E) commits contractually to relocating its corporate headquarters to Indiana.

2. (2) A business that:

   1. (A) is engaged in either interstate or intrastate commerce;
   2. (B) maintains a corporate headquarters at a location outside Indiana;
   3. (C) has not previously maintained a corporate headquarters at a location in Indiana;

   4. (D) either:

      1. (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
      2. (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

   5. (E) commits contractually to relocating:

      1. (i) its corporate headquarters to Indiana; or
      2. (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.