(a) The purpose of this Part is to provide rules and procedures for the New York State Environmental Facilities Corporation (corporation) to provide State assistance payments under the Financial Assistance to Business (FAB) Program created pursuant to sections 56-0303 and 56-0611 of the Environmental Conservation Law. The FAB Program is intended to benefit the people of the State of New York by providing a cleaner environment through the financing of business environmental compliance assistance projects. This Part will describe the procedure for applying for State assistance payments under the FAB Program, and explain the FAB Program's technical and administrative requirements.

(b) This Part applies to all parties seeking or receiving State assistance payments through the FAB Program.