(1) Except as provided in Subsection (3), a claimant, estate, or trust that makes
a donation to the Special Needs Opportunity Scholarship Program established in Section 53E-7-402, may claim a nonrefundable tax credit equal to 100% of the amount stated on a tax
credit certificate issued in accordance with Section 53E-7-407.
(2)(a) If the amount of a tax credit listed on the tax credit certificate exceeds
a claimant's, estate's, or trust's tax liability under this chapter for a taxable
year, the claimant, estate, or trust may carry forward the amount of the tax credit
exceeding the liability for a period that does not exceed the next three taxable years.
(b) A claimant, estate, or trust may not carry back the amount of the tax credit that
exceeds the claimant's, estate's, or trust's tax liability for the taxable year.
(3) A claimant, estate, or trust may not claim a credit described in Subsection (1)
to the extent the claimant, estate, or trust claims a donation described in Subsection
(1) as an itemized deduction on the claimant's, estate's, or trust's federal individual
income tax return for that taxable year.
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