(a) The purpose of these regulations is to set forth the administrative process governing the Excelsior Jobs Program (program) and specifically to establish an application process, standards for application evaluation and procedures for businesses claiming the tax credit under this program. Chapter 59 of the Laws of 2010 establishes the program and grants the Commissioner of the Department of Economic Development the authority to promulgate regulations to establish procedures for the allocation of the Excelsior Jobs Program credit, which consists of four components: the Excelsior Jobs Tax Credit Component, the Excelsior Investment Tax Credit Component, the Excelsior Research and Development Tax Credit Component, and the Excelsior Real Property Tax Credit Component.