(1) No tax credits issued under this article to any qualified taxpayer shall be sold or otherwise transferable to any other taxpayer.
(2) Should the total amount of tax credits available, whether reserved to qualified community foundations or otherwise, be less than the total amount of tax credit requested under the provisions of this article, the Mississippi Association of Grantmakers, or its successor entity, shall determine the process for the allocation of any available tax credits.
(3) All applications for tax credits and any subsequent documentation of the process of application and issuance of tax credits shall be subject to applicable privacy laws.
(4) The Mississippi Association of Grantmakers, or its successor entity, may request qualifying community foundations to periodically report on the impact of tax credits issued under this article, including, but not limited to:
(a) Increases to endowed funds held by qualified community foundations;
(b) Capture of generational transfer of wealth for the benefit of Mississippi communities and organizations; and
(c) Improvements to and support of community development programs, projects and activities.