] is old law to be omitted. LBD01418-01-5A. 3736 2 1 payments in future taxable years without reapplying as long as such 2 taxpayer remains eligible therefor. 3 (B) The commissioner shall determine the eligibility of taxpayers for 4 this credit utilizing the information available to such commissioner as 5 obtained from the applications submitted and from such other sources as 6 the commissioner deems reliable and appropriate. For those taxpayers 7 whom the commissioner has determined eligible for this credit, the 8 commissioner shall advance a payment of up to one-half of the total 9 amount of the total credit owed. 10 (C) A taxpayer who has failed to receive an advance payment that such 11 taxpayer believes was due to them, or who has received an advance 12 payment that such taxpayer believes is less than the amount that was due 13 to such taxpayer, may request payment of the claimed deficiency in a 14 manner prescribed by the commissioner. 15 (D) An advance payment of credit provided pursuant to this subsection 16 that exceeds the taxpayer's qualifying taxes for that taxable year shall 17 be added back as tax on the income tax return for that taxable year. 18 (E) If the commissioner determines after issuing an advance payment 19 that it was issued in an excessive amount or to an ineligible or incor- 20 rect party, the commissioner shall be empowered to utilize any of the 21 procedures for collection, levy and lien of personal income tax set 22 forth in this article, any other relevant procedures referenced within 23 the provisions of this article, and any other law as may be applicable, 24 to recoup the improperly issued amount. 25 (4) Limitation on amount of credit. For the purposes of determining 26 the amount of the credit allowed under this subsection, with respect to 27 a primary residence for the taxable year, there shall not be taken into 28 account rent in excess of an amount equal to one hundred fifty percent 29 of the fair market rent, including the utility allowance, applicable to 30 such residence, as most recently published, as of the beginning of the 31 taxable year, by the United States department of housing and urban 32 development. 33 (5) Application of credit. If the amount of the credit allowed under 34 this subsection for any taxable year shall exceed the taxpayer's tax for 35 such year, the excess shall be treated as an overpayment of tax to be 36 credited or refunded in accordance with the provisions of section six 37 hundred eighty-six of this article, provided, however, that no interest 38 shall be paid thereon. 39 (6) Administration. The commissioner shall have the authority to 40 promulgate such rules and regulations as may be necessary for the proc- 41 essing, determination and granting of credits under this subsection. 42 (7) Definitions. As used in this subsection, the following terms shall 43 have the following meanings: 44 (A) "Qualified taxpayer" shall mean an individual who leases the indi- 45 vidual's primary residence during the taxable year, who pays rent with 46 respect to such residence and whose income is less than fifty percent of 47 the area median income. 48 (B) "Rent" shall include any amount paid for utilities. 49 (C) "Gross income" shall mean the federal adjusted gross income of a 50 taxpayer. 51 § 2. This act shall take effect on the first of January next succeed- 52 ing the date on which it shall have become a law, and shall apply to 53 taxable years commencing on and after such date. Effective immediately, 54 the addition, amendment and/or repeal of any rule or regulation neces- 55 sary for the implementation of this act on its effective date are 56 authorized to be made and completed on or before such effective date.