diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java
index aa0651709ee..995ed225f24 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java
@@ -4587,10 +4587,16 @@ public class ExpressionCodegen extends KtVisitor<StackValue, StackValue> impleme
         // We can use the $$delegatedProperties array as in non-inline functions and upon inlining, detect elements at what indices
         // of that array are used in the inline function body, load the corresponding initializing bytecode from <clinit> of the
         // container class (where the PropertyReferenceNImpl instance is created), copy and adapt it at the call site
-        //noinspection ConstantConditions
-        StackValue value = context.getFunctionDescriptor().isInline()
-                           ? generatePropertyReference(variable.getDelegate(), variableDescriptor, variableDescriptor, null)
-                           : PropertyCodegen.getDelegatedPropertyMetadata(variableDescriptor, bindingContext);
+        StackValue value;
+        if (PropertyCodegen.isDelegatedPropertyWithOptimizedMetadata(variableDescriptor, bindingContext)) {
+            value = PropertyCodegen.getOptimizedDelegatedPropertyMetadataValue();
+        } else if (context.getFunctionDescriptor().isInline()) {
+            //noinspection ConstantConditions
+            value = generatePropertyReference(variable.getDelegate(), variableDescriptor, variableDescriptor, null);
+        }
+        else {
+            value = PropertyCodegen.getDelegatedPropertyMetadata(variableDescriptor, bindingContext);
+        }
         value.put(K_PROPERTY_TYPE, null, v);
         metadataVar.storeSelector(K_PROPERTY_TYPE, null, v);
     }
diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java
index 1c89ab3d71e..2b450eeaeaf 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/PropertyCodegen.java
@@ -564,13 +564,24 @@ public class PropertyCodegen {
         return codegen.invokeFunction(resolvedCall, receiver);
     }
 
+    public static boolean isDelegatedPropertyWithOptimizedMetadata(
+            @NotNull VariableDescriptorWithAccessors descriptor,
+            @NotNull BindingContext bindingContext
+    ) {
+        return Boolean.TRUE == bindingContext.get(DELEGATED_PROPERTY_WITH_OPTIMIZED_METADATA, descriptor);
+    }
+
+    public static @NotNull StackValue getOptimizedDelegatedPropertyMetadataValue() {
+        return StackValue.constant(null, K_PROPERTY_TYPE);
+    }
+
     @NotNull
     public static StackValue getDelegatedPropertyMetadata(
             @NotNull VariableDescriptorWithAccessors descriptor,
             @NotNull BindingContext bindingContext
     ) {
-        if (Boolean.TRUE == bindingContext.get(DELEGATED_PROPERTY_WITH_OPTIMIZED_METADATA, descriptor)) {
-            return StackValue.constant(null, K_PROPERTY_TYPE);
+        if (isDelegatedPropertyWithOptimizedMetadata(descriptor, bindingContext)) {
+            return getOptimizedDelegatedPropertyMetadataValue();
         }
 
         Type owner = bindingContext.get(DELEGATED_PROPERTY_METADATA_OWNER, descriptor);
diff --git a/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java b/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java
index f981cd33acf..e94d4b314ff 100644
--- a/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java
+++ b/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java
@@ -8735,6 +8735,11 @@ public class FirBlackBoxCodegenTestGenerated extends AbstractFirBlackBoxCodegenT
             runTest("compiler/testData/codegen/box/delegatedProperty/kt35707.kt");
         }
 
+        @TestMetadata("kt37204.kt")
+        public void testKt37204() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt37204.kt");
+        }
+
         @TestMetadata("kt4138.kt")
         public void testKt4138() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
diff --git a/compiler/testData/codegen/box/delegatedProperty/kt37204.kt b/compiler/testData/codegen/box/delegatedProperty/kt37204.kt
new file mode 100644
index 00000000000..a4aae28764b
--- /dev/null
+++ b/compiler/testData/codegen/box/delegatedProperty/kt37204.kt
@@ -0,0 +1,22 @@
+// WITH_RUNTIME
+// KJS_WITH_FULL_RUNTIME
+// IGNORE_BACKEND_FIR: JVM_IR
+
+val log = StringBuilder()
+
+inline fun test() {
+    val localLazy by lazy {
+        log.append("localLazy;")
+        "v;"
+    }
+    log.append("test;")
+    log.append(localLazy)
+}
+
+fun box(): String {
+    test()
+    val t = log.toString()
+    if (t != "test;localLazy;v;")
+        throw AssertionError(t)
+    return "OK"
+}
\ No newline at end of file
diff --git a/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java b/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java
index 04852d64fb8..3a2ce3705a4 100644
--- a/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java
@@ -9880,6 +9880,11 @@ public class BlackBoxCodegenTestGenerated extends AbstractBlackBoxCodegenTest {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt35707.kt");
         }
 
+        @TestMetadata("kt37204.kt")
+        public void testKt37204() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt37204.kt");
+        }
+
         @TestMetadata("kt4138.kt")
         public void testKt4138() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
diff --git a/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java b/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
index 15812206a97..42892a65cd0 100644
--- a/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
@@ -9880,6 +9880,11 @@ public class LightAnalysisModeTestGenerated extends AbstractLightAnalysisModeTes
             runTest("compiler/testData/codegen/box/delegatedProperty/kt35707.kt");
         }
 
+        @TestMetadata("kt37204.kt")
+        public void testKt37204() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt37204.kt");
+        }
+
         @TestMetadata("kt4138.kt")
         public void testKt4138() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
diff --git a/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java b/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java
index 6cc81419924..2c6ca7c33b3 100644
--- a/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java
@@ -8735,6 +8735,11 @@ public class IrBlackBoxCodegenTestGenerated extends AbstractIrBlackBoxCodegenTes
             runTest("compiler/testData/codegen/box/delegatedProperty/kt35707.kt");
         }
 
+        @TestMetadata("kt37204.kt")
+        public void testKt37204() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt37204.kt");
+        }
+
         @TestMetadata("kt4138.kt")
         public void testKt4138() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
diff --git a/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java b/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
index fac8aaa8ca4..4f3562e0ffb 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
+++ b/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
@@ -5729,8 +5729,8 @@ public class IrJsCodegenBoxTestGenerated extends AbstractIrJsCodegenBoxTest {
             }
 
             @TestMetadata("suspendFunctionIsAs.kt")
-            public void testSuspendFunctionIsAs_1_3() throws Exception {
-                runTestWithPackageReplacement("compiler/testData/codegen/box/coroutines/featureIntersection/suspendFunctionIsAs.kt", "kotlin.coroutines");
+            public void testSuspendFunctionIsAs() throws Exception {
+                runTest("compiler/testData/codegen/box/coroutines/featureIntersection/suspendFunctionIsAs.kt");
             }
 
             @TestMetadata("suspendInlineSuspendFinally.kt")
@@ -7470,6 +7470,11 @@ public class IrJsCodegenBoxTestGenerated extends AbstractIrJsCodegenBoxTest {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt35707.kt");
         }
 
+        @TestMetadata("kt37204.kt")
+        public void testKt37204() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt37204.kt");
+        }
+
         @TestMetadata("kt4138.kt")
         public void testKt4138() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
diff --git a/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java b/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
index d7e4e92d2ff..057c478e0fe 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
+++ b/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
@@ -5729,8 +5729,8 @@ public class JsCodegenBoxTestGenerated extends AbstractJsCodegenBoxTest {
             }
 
             @TestMetadata("suspendFunctionIsAs.kt")
-            public void testSuspendFunctionIsAs_1_3() throws Exception {
-                runTestWithPackageReplacement("compiler/testData/codegen/box/coroutines/featureIntersection/suspendFunctionIsAs.kt", "kotlin.coroutines");
+            public void testSuspendFunctionIsAs() throws Exception {
+                runTest("compiler/testData/codegen/box/coroutines/featureIntersection/suspendFunctionIsAs.kt");
             }
 
             @TestMetadata("suspendInlineSuspendFinally.kt")
@@ -7470,6 +7470,11 @@ public class JsCodegenBoxTestGenerated extends AbstractJsCodegenBoxTest {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt35707.kt");
         }
 
+        @TestMetadata("kt37204.kt")
+        public void testKt37204() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt37204.kt");
+        }
+
         @TestMetadata("kt4138.kt")
         public void testKt4138() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");