1. (a) The amount of tax credits allowed under this chapter may not exceed two million dollars ($2,000,000) for the period beginning July 1, 2021, through December 31, 2023.
2. (b) The amount of tax credits allowed under this chapter may not exceed two million dollars ($2,000,000) in each calendar year beginning after December 31, 2023, and ending before January 1, 2028.
3. (c) The department shall record the time of filing of each application for allowance of a tax credit required under section 4 of this chapter and shall approve the applications, if they otherwise qualify for a tax credit under this chapter, in the chronological order in which the applications are filed in the calendar year.
4. (d) When the total tax credits approved under this section equal the maximum amount allowable, no application thereafter filed for that calendar year shall be approved.

As added by P.L.165-2021, SEC.91. Amended by P.L.97-2023, SEC.5.