An electric utility’s account is eligible for the managed audit program only if the electric utility meets all of the following criteria:

1. (a) The electric utility’s business involves few or no statutory exemptions.
2. (b) The electric utility’s business involves a single or small number of clearly defined taxability issues.
3. (c) The electric utility is subject to this part and agrees to participate in the managed audit program.
4. (d) The electric utility has the resources to comply with the managed audit instructions provided by the board.