of the Energy Star-rated product manufacturing tax credit for
the taxable year in which the tax credit is first approved, the
excess may be carried over to succeeding taxable years and used
as a credit against the qualified tax liability of the taxpayer
for those taxable years. Each time that the tax credit is
carried over to a succeeding taxable year, it is to be reduced
by the amount that was used as a credit during the immediately
preceding taxable year. The tax credit provided under this
article may be carried over and applied to succeeding taxable
years for no more than five taxable years following the first
taxable year for which the taxpayer was entitled to claim the
tax credit.
(b) Application.--An Energy Star-rated product manufacturing
tax credit approved by the department in a taxable year first
shall 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.--A taxpayer is not entitled to carry back or
obtain a refund of an unused Energy Star-rated product
manufacturing tax credit.
Section 1805-H. Availability of tax credit.
Each fiscal year, $10,000,000 in tax credits shall be made
available to the department and may be awarded by the department
in accordance with this article.
Section 1806-H. Regulations.
The department shall promulgate regulations necessary for the
implementation and administration of this article.
Section 2. The addition of sections 1801-H, 1802-H, 1803-H,
1804-H, 1805-H and 1806-H of the act shall apply to tax years
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