Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8905-K. Pass-through entity

(a) Election.--If the qualified taxpayer is a pass-through entity, the qualified taxpayer may elect in writing, according to procedures established by the department, to transfer all or a portion of the credit to shareholders, members or partners in proportion to the share of the qualified taxpayer's distributive income to which the shareholders, members or partners are entitled or in any other manner designated by the qualified taxpayer in accordance with its governance documents and without regard to how distributive income, losses or credits are allocated for other tax purposes.

(b) Limitation.--The same unused tax credit under subsection (a) may not be claimed by:

(c) Time.--A shareholder, member or partner of a pass-through entity under subsection (a) may only use a tax credit during a taxable year for which use of the credit is authorized.  The shareholder, member or partner of the pass-through entity may not carry forward, carry back, obtain a refund of or sell or assign the tax credit.