(1) The tax credit will be available to claim unless the budget director provides a certification in writing to the legislative finance committee as specified in [Section 25, Chapter 550, Laws of 2021] that the implementation of the credit in a given year will: 

(a)  result in a reduction of funds under the American Rescue Plan Act; or

(b)  require the state to repay or refund the federal government pursuant to the American Rescue Plan Act.

(2) If the relevant contingency as provided for in (1) occurs, the credit will not be available in the taxable year following the budget director's determination.