(a) A business, to the extent that such business contributes to the cost of the labor, materials, construction, and/or the design for the repair and rehabilitation of the Southern High School Auditorium, as identified and approved by the Guam Economic Development Authority (GEDA), shall be entitled to credits against unpledged business privilege taxes. The basis of the contribution to the project shall be the actual cost of the contribution plus the cost of transportation from the point of origin to its destination.

(b) Any unused credits not used in the current tax period may be carried over into subsequent tax periods until such credits are exhausted.

(c) The total credits allowed under this Article shall not exceed the actual dollar amount of the expenditures.