After a determination has been made on any application by the board, any interested person may, within twenty (20) days after notice of the determination or finding of the board, apply for a rehearing with respect to any of the matters determined by the bo ard. The application shall specify the matter of which a rehearing is sought. The board shall fix the time for the rehearing within twenty (20) days after the same is filed with the secretary of the board, in no event to be less than sixty (60) days from t he date the application is filed unless otherwise agreed by the parties. Upon the rehearing a complete transcript shall be made of all evidence presented. The cost of such transcript shall be borne equally by the applicant for the rehearing and the board. Upon rehearing, the board may change, modify, vacate or affirm its previous order upon said application and enter such an order as it deems necessary.
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