Section 15-313-21 - Application, reservation and allocation of credit(a) The rules set forth in subchapter 2 of these rules shall apply to the application, selection of applications for state credit reservations, and allocation of credits available under this subchapter except: (1) Applicants applying for both the state and federal credit need only submit a single application fee.(2) An applicant must receive a reservation of federal tax credits to be eligible to receive a state tax credit reservation; and(3) In order to qualify for consideration to receive a reservation of state tax credits under this subchapter, the executive director must first determine that an applicant is likely to qualify to claim the federal income tax low income housing tax credit.(b) In recommending projects for state credit reservations, and in awarding state credit reservations, under this subchapter, the executive director or the board, as the case may be, need not weigh the factors in section 15-313-10 in the identical manner as such factors were weighed in determining an applicant's reservation or allocation of federal tax credits. In considering applications for state tax credits, the executive director and the board may also consider the amount of federal credit that has been reserved or allocated for such applicant in order that the corporation may award available state tax credit incentives so as to maximize the number and quality of low income housing units. [Eff APR 23 2010] (Auth: HRS §§ 201H-4, 201H-15) (Imp: HRS § 201H-15)