Sec. 9. (a) If the amount of the credit determined under section 5 or 6 of this chapter, as applicable, for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess credit over for a period not to exceed the taxpayer's following five (5) taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year. A taxpayer is not entitled to a carryback or a refund of any unused credit amount. (b) A taxpayer may not assign any part of a credit to which the taxpayer is entitled under this chapter.
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