If a taxpayer has an ownership interest in a physician owned medical practice described in section 5(2) of this chapter that:

1. (1) is established as a legal entity under Indiana law after December 31, 2023;
2. (2) opens and begins to provide primary health care services to patients in a particular taxable year beginning after December 31, 2023; and

3. (3) has billed for health care services described in subdivision (2) for at least six (6) months of that taxable year;

   the taxpayer may, subject to section 7 of this chapter, claim a credit against the taxpayer's state income tax liability. Subject to section 8 of this chapter, the amount of the credit allowed under this chapter for a particular taxable year is twenty thousand dollars ($20,000).

As added by P.L.203-2023, SEC.3.