(b)

1. (1) The first plan begins with the 2009 allocations.

2. (2)

   1. (A) The authority will assess a one-time monitoring fee of eight percent (8%) of the annual credit allocation for the development.
   2. (B) This assessment is due when credits are allocated, and no other monitoring fee will be due.

(c)

1. (1) The second tier of the plan applies to existing properties that were assessed a monitoring fee of six percent (6%) at allocation.
2. (2) The initial six percent (6%) fee covers the first fifteen (15) years of monitoring.
3. (3) Properties that are now in extended years sixteen (16) through thirty-plus will be assessed a fee of fifty dollars ($50.00) per tax credit unit.
4. (4) Rather than collect the fee annually, the authority will collect this fee when the authority conducts the audit, which is typically every three (3) years but is subject to the authority’s discretion.