Sec. 14. (a) For each state fiscal year beginning after June 30, 2025, the aggregate amount of state tax credits permitted:
(1) for qualified railroad expenditures allowed under this chapter may not exceed nine million five hundred thousand dollars ($9,500,000); and
(2) for qualified new rail infrastructure expenditures allowed under this chapter may not exceed five million dollars ($5,000,000).
(b) Not later than June 15, 2026, and not later than June 15 each year thereafter, the department shall report to the Indiana department of transportation and the state comptroller the total amount of state tax credits certified for the immediately preceding taxable year under section 8(c) of this chapter.