(a) Tax credit authority.--For purposes, and in accordance with the provisions of this article, the agency may allocate an amount not to exceed $4,500,000 in each fiscal year in mixed-use development tax credits and is directed to deposit proceeds and earnings derived from the sale into the fund.

(b) Establishment and authorization.--The agency shall have the authority to perform actions necessary or convenient to establish protocols and procedures to sell and distribute mixed-use development tax credits, directly or indirectly, to achieve the purposes of this program.

(c) Limitations.--A qualified taxpayer may only purchase mixed-use development tax credits from the agency and may only apply such credits against the qualified taxpayer's qualified tax liability in accordance with this article.

(d) Sale procedures.--Mixed-use development tax credits may be offered by the agency through direct or negotiated sale to qualified taxpayers.

(e) Procedures.--The agency shall adopt procedures and application criteria that shall be designed to deliver the mixed-use development tax credits in the manner deemed most appropriate to maximize the highest yield to the Commonwealth, to achieve a timely and equitable execution of the delivery of mixed-use development tax credits and to achieve the goals and purposes of the program. Procedures for the sale and application criteria proposed by the agency shall be made available for public comment in a manner consistent with section 1905-E(g).¹

(f) Application.--A qualified taxpayer seeking to purchase a mixed-use development tax credit may apply to the agency in the manner prescribed by the agency as set forth in the guidelines adopted pursuant to this article. The agency may require applicants to provide evidence of the taxpayer's qualifications.