Credit is Refundable

Official source

The credit is refundable but not transferable. The Commissioner shall apply the credit against the taxpayer’s liability as reported on the taxpayer’s tax return, as first reduced by any other available credits, and then refund the balance of the credit to the taxpayer without interest.

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Credit is Refundable

Official source

The credit is refundable but not transferable. The Commissioner shall apply the credit against the taxpayer’s liability as reported on the taxpayer’s tax return, as first reduced by any other available credits, and then refund the balance of the credit to the taxpayer without interest.