(

a) Notwithstanding anything to the contrary in Sections and 23695, and in

Section 23698, as that

section read on January 1, 2025, a credit, or any portion thereof, allowed under

Section 23685, 23695, or and generated by a disregarded single member limited liability company shall not be ineligible for assignment to a corporation that, directly or indirectly, owns the disregarded single member limited liability company, or to an affiliated corporation of that corporation, based on either of the following:

(1) The disregarded single member limited liability company is not considered a qualified taxpayer, as defined in subdivision (

b) of Sections and and subdivision (

b) of 23698, as that

section read on January 1, 2025.

(2) The amount of credit allowed under

Section 23685, 23695, or does not exceed the tax liability of the disregarded single member limited liability company for purposes of paragraph (1) of subdivision (

c) of Sections or or paragraph (1) of subdivision (

c) of

Section 23698, as that

section read on January 1, 2025, respectively. (

b) For purposes of this section, “affiliated corporation” has the same meaning as defined in paragraph (1) of subdivision (

c) of Sections and and paragraph (1) of subdivision (

c) of

Section 23698, as that

section read on January 1, 2025. (

c) This

section shall apply only when the credits affected by this

section were assigned and claimed on a tax return timely filed with the Franchise Tax Board for taxable years beginning on or before January 1, 2025.