(a) After receiving notification that an investment was made, the Director shall issue a tentative tax credit certificate to a qualified investor or, for an investment made by a qualified fund, to each qualified investor who is an investor in the qualified fund. The tentative tax credit certificate must state that the tax credit is available to the qualified investor if the qualified investor or qualified fund, as the case may be, holds the investment in the qualified small business for at least 180 days.

(b) The Director must notify the Director of the Division of Revenue of all tentative tax credit certificates issued under this section by the end of the month in which the Director issues tentative tax credit certificates.

(c) (1) Upon receipt of a report required from the qualified investor or qualified fund under § 20D-107(b) of this title, the Director shall confirm that the qualified small business has filed any annual reports required under § 20D-107(a) of this title and continues to qualify under this chapter.

(2) After the Director makes the confirmation required under paragraph (c)(1) of this section, the Director shall issue a final tax credit certificate to the qualified investor or, for an investment made by a qualified fund, to each qualified investor who is an investor in the qualified fund. The tax credit reflected on the final tax credit certificate may be claimed on any tax return required to be filed by the qualified investor on or after the date on which the final tax credit certificate is issued.

(d) A final tax credit certificate expires if the tax credit is not reflected on a timely-filed tax return within 3 years of the date on which the final tax credit certificate was issued.

(e) The Director must notify the Director of the Division of Revenue of all final tax credit certificates issued under this section by the end of the month in which the Director issues final tax credit certificates.

81 Del. Laws, c. 244, § 3.