77-7012.

Tax credit; application; approval; limitation; department; duties.

(1) If the department determines that an application is complete and that the taxpayer qualifies for tax credits, the department shall approve the application within the limits set forth in this section and shall certify the amount of tax credits approved to the taxpayer.

(2) The department may approve up to one million dollars in tax credits in fiscal year 2024-25 and up to one million five hundred thousand dollars in tax credits in any fiscal year thereafter. If the total amount of tax credits requested in any fiscal year exceeds such limit, the department shall allocate the tax credits proportionally based upon amounts requested.