AN ACT TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION SHALL ESTABLISH A PROGRAM TO PROVIDE AN INCOME TAX CREDIT FOR TAXPAYERS WHO DEVELOP PROPERTY USED OR FORMERLY USED FOR COMMERCIAL PURPOSES IN THE CAPITOL COMPLEX IMPROVEMENT DISTRICT FOR THE PURPOSE OF CONVERTING THE PROPERTY TO RESIDENTIAL USE; TO PROVIDE AN APPLICATION PROCESS FOR TAXPAYERS WHO DESIRE TO PARTICIPATE IN THE TAX CREDIT PROGRAM; TO AUTHORIZE A REFUNDABLE INCOME TAX CREDIT FOR TAXPAYERS WHO INCUR COSTS FOR THE DEVELOPMENT OF PROPERTY AS PROVIDED IN THIS ACT; TO PROVIDE FOR THE AMOUNT OF THE TAX CREDIT; TO PROVIDE THAT IF THE AMOUNT OF THE TAX CREDIT CLAIMED BY A TAXPAYER EXCEEDS THE AMOUNT OF INCOME TAX LIABILITY OF THE TAXPAYER FOR A TAXABLE YEAR, THE TAXPAYER SHALL BE ELIGIBLE TO RECEIVE A REFUND FROM THE DEPARTMENT OF REVENUE FOR THE AMOUNT OF SUCH EXCESS; TO PROVIDE THAT IN LIEU OF RECEIVING SUCH A REFUND, A TAXPAYER MAY SELL OR TRANSFER THE EXCESS PORTION OF THE TAX CREDIT TO ANY TAXPAYER HAVING A LIABILITY FOR INCOME TAXES; AND FOR RELATED PURPOSES.