Section 8718-L - Pass-through entity.(a) Election.--If a pass-through entity has an unused tax credit, the pass-through entity may elect, in writing, according to procedures established by the department, to transfer all or a portion of the tax credit to shareholders, members or partners in proportion to the share of the entity's distributive income to which the shareholders, members or partners are entitled.(b)Limitation.--The same unused tax credit under subsection (a) may not be claimed by:(1) The pass-through entity; and(2) A shareholder, member or partner of the pass-through entity.(c) Amount.--The amount of the tax credit that a transferee under subsection (a) may use against any one qualified tax liability may not exceed 20% of any qualified tax liabilities for the taxable year.(d)Time.--A transferee under subsection (a) must claim the tax credit in the calendar year in which the transfer is made.(e) Sale and assignment.--A transferee under subsection (a) may not sell or assign the 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.