(1) As used in this section, "business applicant" means the same as that term is defined in Section 63N-2-302.
(2) A business applicant that is certified and issued a targeted business income tax eligibility certificate by the office under Section 63N-2-304 may claim a refundable tax credit in the amount specified on the targeted business income tax eligibility certificate.
(3) For a taxable year for which a business applicant claims a targeted business income tax credit available under this section, the business applicant may not claim or carry forward a tax credit available under Section 59-7-610, Section 59-10-1007, or Title 63N, Chapter 2, Part 2, Enterprise Zone Act.
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