Section 8716-L - Sale or assignment.(a)Authorization.--If the qualified taxpayer holds a tax credit through the end of the calendar year in which the tax credit was granted, the qualified taxpayer may sell or assign a tax credit, in whole or in part, provided the sale is effective by the close of the following calendar year.(b)Application.--(1) To sell or assign a tax credit, a qualified taxpayer must file an application for the sale or assignment of the tax credit with the department. The application must be on a form required by the department.(2) To approve an application, the department must receive: (i) A finding from the department that the applicant has: (A) Filed all required state tax reports and returns for all applicable taxable years; and(B) Paid any balance of State tax due as determined by assessment or determination by the department and not under timely appeal; and(ii) For a sale or assignment to a company that is not an upstream company or downstream company, a certification from the qualified taxpayer that the qualified taxpayer has offered to sell or assign the tax credit: (A) Exclusively to a downstream company for a period of 30 days following approval of the tax credit under section 1713-L(c); and(B) To an upstream company or downstream company for a period of 30 days following expiration of the period under clause (A).(c)Approval.--Upon approval by the department, a qualified taxpayer may sell or assign, in whole or in part, a tax credit.Amended by P.L. TBD 2022 No. 108, § 11, eff. 1/3/2023.Added by P.L. TBD 2020 No. 66, § 1.1, eff. 9/21/2020.