(a) Authorization.--The agency is authorized to perform all necessary and convenient actions to implement the program.

(b) Application.--Eligible project owners may apply to the agency for program funding for an eligible project. The agency shall promulgate guidelines for applying for program funding under this section.

(c) Selection.--The agency shall review applications submitted for program funds and, in accordance with the procedures established in the agency guidelines, shall select and shall conditionally commit program funds to the eligible projects. Eligible project owners shall provide the agency with all program requirements necessary for closing and funding of the eligible project in a form and a timely manner as determined by the agency.

(d) Disbursement.--Funds shall be disbursed to the eligible project owner as determined by the agency.

(e) Monitoring and cost certification.--The agency shall establish procedures for the monitoring of the use of funds and for a cost certification process at the end of the construction or rehabilitation process.

(f) Agency guidelines.--Within 180 days of the effective date of this article, the agency shall perform the following:

(g) Notice and comment.--The agency shall publish proposed guidelines, including a comment response document, in the Pennsylvania Bulletin and on the agency's publicly accessible Internet website for public comments no later than 45 days prior to adoption. All comments submitted to the agency in writing shall be public records and shall be incorporated into the comment response document.

(h) Report.--Within 90 days following the close of the first calendar year in which tax credits are made available, and by July 1 of every year thereafter, the agency, in consultation with the department, shall issue a report containing:

(i) Submission of report.--The report under subsection (h) shall constitute a public record and shall be published on the agency's publicly accessible Internet website and submitted to the following: