Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 63, § 38KK

(b) To be eligible for a credit under this section: (i) the primary place of employment and the primary residence of the member of the Massachusetts national guard shall be in the commonwealth; and (ii) not later than 6 months after an individual begins work, a business shall have obtained the applicable certification from the office of the adjutant general that the individual is a member of the Massachusetts national guard.

(c) In the case of a business corporation that is subject to a minimum excise under this chapter, the amount of the credit allowed by this section shall not reduce the excise to an amount less than such minimum excise.

(d) A credit allowed under this section shall not be transferable or refundable. Any amount of the credit allowed under this section that exceeds the tax due for a taxable year may be carried forward to any of the 3 subsequent taxable years.

(e) The total cumulative value of the credits authorized pursuant to this section and subsection (aa) of section 6 of chapter 62 shall not exceed $1,000,000 annually.

(f) The Massachusetts office of business development, in consultation with the commissioner, shall authorize, administer and determine eligibility for the tax credit pursuant to this section and subsection (aa) of section 6 of chapter 62 and allocate the credit in accordance with the standards and requirements set forth in regulations promulgated pursuant to this section.

(g) The Massachusetts office of business development, in consultation with the commissioner, shall promulgate regulations establishing an application process for the credit; provided, that the credit shall be authorized for all eligible applicants on a first-come, first-served basis; and provided further, that the $1,000,000 limit on the total cumulative value of the credits authorized annually set forth in subsection (e) shall not be exceeded.