Carry Over of Unused Credit

A taxpayer investor who is entitled to claim a credit under M.G.L. c. 62, § 6(t)(1) for a taxable year may carry over and apply against the taxpayer’s tax liability under M.G.L. c. 62 for any one or more of the succeeding three taxable years, the portion, as reduced from year to year, of the credit that exceeds the tax for the taxable year.