Section 8738-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.Added by P.L. TBD 2022 No. 108, § 16, eff. 1/3/2023.