1. (a) The board will consider applications for financial assistance from the State Participation Accounts at its meetings in March and October of each year. An application may be submitted at any time. To be considered by the board, and rated by the executive administrator, the application must be received no later than 45 days before the board meeting date at which it is to be presented to the board.

2. (b) Prior to each board meeting at which applications may be considered, the executive administrator shall:

   1. (1) for each application that the executive administrator has determined is complete, identify the number of points that the application is entitled to receive from the rating criteria identified in §363.1007 of this title (relating to Rating Criteria).
   2. (2) provide to the board a list of all completed applications, the amount of funds requested and the total number of points that each application received; and
   3. (3) identify to the board, the total amount of funds available in the State Participation Account for new applications.
3. (c) If there are funds in the State Participation Account to fund all or part of any of the projects for which the executive administrator has received completed applications during the preceding six months, the board will first consider any projects that the legislature has determined shall receive priority for financial assistance from the State Participation Account. If, after considering projects with legislative priority, there are funds available for other eligible projects in the State Participation Account, then the board will consider such other applications received by the executive administrator during the preceding six month period in descending numerical order based on the rating points assigned to the application according to §363.1007 of this title. The board will consider the next application on the list only if there are funds available in the account to fund all or, if acceptable to the applicant, a part of the application.

Source Note:The provisions of this §363.1006 adopted to be effective October 8, 2002, 27 TexReg 9382.