A. Except as provided otherwise in this section, a credit or tax rebate provided in the Income Tax Act that is claimed shall be disallowed if the claim for the credit or tax rebate was first made after the end of the third calendar year following the calendar year in which the return upon which the credit or tax rebate was first claimable was initially due.
B. Subsection A of this section does not apply to the credit authorized by Section 7-2-13 NMSA 1978 for income taxes paid another state.