As used in this section, “affected business entity” and “member” have the same meanings as provided in subsection (a) of § 12-699. An affected business entity that receives a rebate under § 32-7t shall claim such rebate as a credit against the tax due under chapter 228z. If the amount of the rebate allowed pursuant to § 32-7t exceeds the liability for the tax imposed under chapter 228z, the Commissioner of Revenue Services shall treat such excess as an overpayment and shall refund the amount of such excess, without interest, to the taxpayer. With respect to an affected business entity granted a rebate pursuant to § 32-7t, the credit available to the members of such entity pursuant to subdivision (1) of subsection (g) of § 12-699 shall be based upon the amount of tax due under chapter 228z from such entity prior to the application of the rebate granted pursuant to § 32-7t and any other payments made against such tax due.