All persons or entities requesting allocations of economic development power shall be required to complete an application in a format prescribed by the board, including such information, exhibits and supporting data as may be requested by the board. There shall be no priority attached to applications based on the date of receipt by the board; provided, however, that the board may in appropriate circumstances require that applications be filed on or before a particular date. Within 20 days of the submission of an application or reapplication, the applicant shall be notified as to the sufficiency of the application or reapplication.