Section 6-3.1-38-7 - Maximum amount of credit; approval of claims(a) The amount of tax credits granted under this chapter may not exceed ten million dollars ($10,000,000) in any taxable year.(b) The department shall record the time of filing of each return claiming a credit under section 6 of this chapter and shall approve the claims if they otherwise qualify for a tax credit under this chapter, in the chronological order in which the claims are filed in the state fiscal year.(c) The department may not approve a claim for a tax credit after the date on which the total credits approved under this section equal the maximum amount allowable in a particular state fiscal year.Added by P.L. 203-2023,SEC. 2, eff. 1/1/2024.