Section 8734-D - Carryover, carryback and assignment of tax credit.(a) General rule.--If a taxpayer cannot use the entire amount of a 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 tax credit against the qualified tax liability of the taxpayer for those taxable years. Each time the tax credit is carried over to a succeeding taxable year, the tax credit shall be reduced by the amount that was used as a credit during the immediately preceding taxable year. The tax credit may be carried over and applied to succeeding taxable years for no more than three taxable years following the first taxable year for which the taxpayer was entitled to claim the tax credit.(b) Application.--A 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 can be applied against any tax liability under subsection (a).(c)No carryback or refund.--A taxpayer shall not be entitled to carry back or obtain a refund of all or any portion of an unused tax credit granted to the taxpayer under this subarticle.Added by P.L. TBD 2016 No. 84, § 30, eff. 7/13/2016.