(J) The credits authorized by this section are in lieu of any other applicable income tax credits or abatements allowed by state law, and in the event of an overlap or conflict in available credits or abatements to a taxpayer, the taxpayer must select the credit or abatement he the taxpayer desires in the manner prescribed by the Department of Revenue to the extent the credits or abatements conflict or overlap.” SECTION 3. Section 1263620 of the 1976 Code is amended by adding an appropriately numbered subsection to read: Notwithstanding subsections (A) or (D)(1), for any credit “( ) requested after tax year 2013, to obtain the maximum amount of credit available to a taxpayer, a taxpayer must submit a request for credit to the Department of Revenue by January thirtyfirst for all qualifying equipment placed in service in the previous calendar year and the department must notify the taxpayer that it qualifies for the credit and the amount of credit allocated to the taxpayer by March first of that year. A taxpayer may claim the maximum amount of the credit for its taxable year which contains the December thirtyfirst of the previous calendar year. The Department of Revenue may require any documentation that it deems necessary to administer the credit, including, but not limited to, documentation relating to certifying the costs incurred by a taxpayer. The Department of Revenue shall consult with the State Energy Office or any other appropriate state and federal officials on standards for certification.” SECTION 4. This act takes effect upon approval by the Governor. / Renumber sections to conform. Amend title to conform. Majority favorable. Minority unfavorable. HUGH K. LEATHERMAN, SR. KEVIN L. BRYANT For Majority. For Minority.
(J) The credits authorized by this section are in lieu of any other applicable income tax credits or abatements allowed by state law, and in the event of an overlap or conflict in available credits or abatements to a taxpayer, the taxpayer must select the credit or abatement he the taxpayer desires in the manner prescribed by the Department of Revenue to the extent the credits or abatements conflict or overlap.” SECTION 3. Section 1263620 of the 1976 Code is amended by adding an appropriately numbered subsection to read: “( ) Notwithstanding subsections (A) or (D)(1), for any credit requested after tax year 2013, to obtain the maximum amount of credit available to a taxpayer, a taxpayer must submit a request for credit to the Department of Revenue by January thirtyfirst for all qualifying equipment placed in service in the previous calendar year and the department must notify the taxpayer that it qualifies for the credit and the amount of credit allocated to the taxpayer by March first of that year. A taxpayer may claim the maximum amount of the credit for its taxable year which contains the December thirtyfirst of the previous calendar year. The Department of Revenue may require any documentation that it deems necessary to administer the credit, including, but not limited to, documentation relating to certifying the costs incurred by a taxpayer. The Department of Revenue shall consult with the State Energy Office or any other appropriate state and federal officials on standards for certification.” SECTION 4. This act takes effect upon approval by the Governor. / Renumber sections to conform. Amend title to conform. Majority favorable. Minority unfavorable. HUGH K. LEATHERMAN, SR. KEVIN L. BRYANT For Majority. For Minority.