(a)
(1) No person or entity may file for benefits under this subchapter if an application for benefits has been filed and approved under the Economic Investment Tax Credit Act, § 26-52-701 et seq., for the same project.
(2) However, an application for benefits under the Economic Investment Tax Credit Act, § 26-52-701 et seq., may be withdrawn if no tax credits have been taken under that subchapter.
(b)
(1) When a project has been approved under the Economic Investment Tax Credit Act, § 26-52-701 et seq., no application for a project under this subchapter will be accepted until the expiration of one (1) year after the date of the approval of the application under the Economic Investment Tax Credit Act, § 26-52-701 et seq.
(2) When a project has been approved under this subchapter, no application for projects under the Economic Investment Tax Credit Act, § 26-52-701 et seq., shall be accepted until the expiration of one (1) year after the date of approval of the application under this subchapter.
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