The algorithm for drop frame timecodes for NTSC television is well-known:
Every frame that is of the form: XX:XX:00:00 or XX:XX:00:01 is dropped unless it is on a ten minute interval, i.e.: XX:X0:XX:XX. That is, the first two frames of every minute, except every tenth minute, are dropped. Drop timecode is delimited with ';' instead of ':' between fields.
The question is: What is the algorithm for drop frame timecodes in the case of 23.976 fps media (media shot close to the 24 fps standard for film, but set at 23.976 fps to allow for exact teleine when converting to NTSC 29.97).