Transferability of project tax credit; recertification; determination of prices; rules. (1) The owner of a project may transfer a tax credit for the project in exchange for a cash payment equal to the present value of the potential tax credit, as determined at the time of the application for preliminary certification. If the tax credit is subject to recertification, only that portion of the tax credit that has been recertified may be transferred

(2) The State Department of Energy shall establish by rule a formula to be employed in the determination of prices of credits transferred under this section. In establishing the formula the department shall incorporate inflation projections and market real rate of return.

(3) The department shall recalculate credit transfer prices quarterly, employing the formula established under subsection (2) of this section. [2011 c.730 §40; 2012 c.45 §20; 2015 c.545 §4]