Pennsylvania Statutes Title 73 P.S. Trade and Commerce § 1649.707. Pass-through entity

(a) General rule.--If a pass-through entity has any unused tax credit under section 705,  1 the entity may elect, in writing, according to the department's procedures, to transfer all or a portion of the credit to shareholders, members or partners in proportion to the share of the entity's distributive income to which the shareholder, member or partner is entitled.

(b) Additional credit and limitation.--The credit provided under subsection (a) is in addition to any alternative energy production tax credit to which a shareholder, member or partner of a pass-through entity is otherwise entitled under this chapter. A pass-through entity and a shareholder, member or partner of a pass-through entity may not claim a credit under this chapter for the same alternative energy production investment.

(c) Application.--A shareholder, member or partner of a pass-through entity to whom credit is transferred under subsection (a) must immediately claim the credit in the taxable year in which the transfer is made. The shareholder, member or partner may not carry forward, carry back, obtain a refund of or sell or assign the credit.