1. A. The Department shall approve initial applications submitted under Regulation .08 based on the following priority order:

   1. (1) An eligible project in a Tier 1 area that received a final certificate in the previous fiscal year.
   2. (2) An eligible project in a Tier II area that received a final certificate in the previous fiscal year.
   3. (3) An eligible project in a Tier 1 area that did not receive a final certificate in the previous fiscal year.
   4. (4) An eligible project in a Tier II area that did not receive a final certificate in in the previous fiscal year.

2. B. If there are unencumbered funds remaining, the Department may:

   1. (1) Carry forward the unused balance to the next fiscal year;
   2. (2) Establish one or more additional periods during the fiscal year for accepting initial applications; or
   3. (3) Issue credits on a first-come first-served basis during the fiscal year until fiscal year funding is exhausted.

Authority: Corporations and Associations Article, §1-203.1; Economic Development Article, §§2-108 and 6-801—6-809; Tax-General Article, §§10-741 and
11-411; Tax-Property Article §9-110; Annotated Code of Maryland

Effective date: April 4, 2022 (49:7 Md. R. 469)