(1) For purposes of administration of the Fund in accordance with M.G.L. c. 23K, § 61, the Commission, with recommendation from the Gaming Policy Advisory Committee and its subcommittees established pursuant to M.G.L. c. 23K, § 68, shall review and approve guidelines annually for the administration and distribution of monies in the Fund. Such guidelines shall include, at a minimum:

1. (a) The types of grants that will be available;
2. (b) Who may apply;
3. (c) What types of projects may be funded, including any limitations;
4. (d) The form, process, and timeline for application and review, including the application deadline;
5. (e) The availability and allocation of funding;
6. (f) The process and criteria for Commission review;
7. (g) A timeframe within which funds must be expended before reverting back to the Fund;
8. (h) The use of surplus funds; and
9. (i) A procedure providing for waiver or variance from a provision of the guidelines.