The Secretary, in consultation with the Department of Commerce, shall adopt regulations to carry out the provisions of this subtitle, including regulations that: (1) establish procedures and standards for certifying new construction costs and rehabilitation costs under this subtitle; (2) establish an application process for the issuance of tax credit certificates under this subtitle, with an emphasis on applications that promote affordable housing; and (3) establish procedures for the approval of project phases for tax credit certificates issued under this subtitle.
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