credit may be carried over and applied to succeeding taxable
years for no more than seven taxable years following the first
taxable year for which the taxpayer was entitled to claim the
tax credit.
(b) Application of tax credit.--A tax credit approved by the
department for a qualified equipment donation in a taxable year
shall first be applied against the taxpayer's qualified tax
liability for the current taxable year as of the date on which
the tax credit was approved before the tax credit is applied
against any tax liability under subsection (a).
(c) Carryback or refund.--A taxpayer is not entitled to
carry back or obtain a refund of an unused tax credit.
(d) Sale or assignment.--A taxpayer, upon application to and
approval by the department, may sell or assign, in whole or in
part, a tax credit granted to the taxpayer under this chapter if
the taxpayer does not have a qualified tax liability against
which the tax credit may be applied in the current taxable year.
The department shall establish guidelines for the approval of
applications under this subsection. Before an application is
approved, the department shall make a finding that the taxpayer
and its assignee have filed all required State tax reports and
returns for all taxable years and paid any balance of State tax
due as determined by the department.
(e) Purchasers and assignees.--The purchaser or assignee of
all or a portion of a tax credit under subsection (d) shall
immediately claim the credit in the taxable year in which the
purchase or assignment is made, although the purchaser or
assignee may carry over unused tax credits to the succeeding
taxable year for up to two years. The amount of the tax credit
that a purchaser or assignee may use against any one qualified
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