Section 280-RICR-20-20-6.8 - Queuing ProcessA. In order to comply with the requirements of § 6.7(D) of this Part, the Division of Taxation has developed a "queuing" process, which is an equitable process that will provide Applicants some degree of certainty as to what credit amounts may be available to them at the conclusion of a project. This queuing process shall consist of the following: 1. On or after August 1, 2013, any Person intending to participate in the historic preservation tax credit 2013 program must first apply to the Division of Taxation using basis as Form HTC-13. These projects will be placed in sequence on a "first come, first served" further described in § 6.8(A)(7) of this Part below. Any application received before August 1, 2013 will be deemed received on August 1, 2013. This sequence is also referred to within as the "queue."2. To remain eligible for the tax credits, Applicants have ninety (90) days from the of date the Division of Taxation's notice that credits are available for their project to apply for Part 1 and Part 2 certification from the Commission. Failure to do so will result in the loss of place in the queue and forfeiture of all rights, claims and entitlements to the credits initially available to the project. The project may reapply in accordance § 6.8(A)(1) of this Part. At the time of reapplication the project will be placed at the end of the queue. Any Part 1 or Part 2 certification received prior to August 1, 2013 must be re-certified by the Commission.3. Within thirty (30) days after the date of Part 2 certification, the Applicant shall pay to the Division of Taxation a non-refundable Processing Fee equal to three percent (3%) of the estimated QREs and shall execute the Contract with the Division of Taxation.4. The estimated credit amount, as filed on Form HTC-13, will not be allocated to any other project, unless the project: b. Declares in writing to the Division of Taxation the Owner wishes to abandon its claim under R.I. Gen. Laws Chapter 44-33.6; orc. Fails to meet the deadlines as indicated in this Part; ord. Fails to pay the appropriate Processing Fee; ore. Fails to timely enter into a Contract with the Division of Taxation.5. In order to maintain place in the queue, a project shall commence Substantial Construction within twelve (12) months from the date of the Part 2 certification letter, and cannot Remain Idle.6. Upon the project's voluntary or involuntary abandonment of tax credits, the estimated tax credit which originally had been assigned to the project shall be released and made available to other projects in sequence in the queue, subject to the sunset provision in § 6.25 of this Part.7. If all available tax credits have been allocated, a project applying for tax credits shall be put at the end of the queue in the order of the date the application was received by the Division of Taxation.8. If multiple applications are received by the Division of Taxation on the same day seeking credits in excess of the amount of credits available, the Division of Taxation shall hold a public drawing to determine the queuing order for such projects.9. Applications will be deemed received on the date postmarked for delivery in the U.S. mail or on the date delivered to the Division of Taxation by the taxpayer or his representative, by messenger, or by an overnight delivery service.B. In the event funds become available, the Division of Taxation may notify a project in the queue credits are available to them, provided the project has not been Placed-in-Service. In the case of a Phased Project, credits may become available only to those phases not yet Placed-in-Service.1. Example 1: Project not Placed-in-Service: An Applicant in the Queue for which credits were not initially available decides to rehabilitate the building even though credits are not available to the project. Subsequently, credits became available and the project had not yet been Placed-in-Service. The project would be eligible to receive tax credits.2. Example 2: Project Placed-in-Service: An Applicant in the Queue for which credits were not initially available decides to rehabilitate building even though credits are not available to the project. The project was Placed-in-Service before credits become available. The Applicant is not eligible to receive tax credits.3. Example 3 Phased Project: An Applicant in the Queue for which credits were not initially available decides to rehabilitate building even though credits are not available to the project. Subsequently, credits are available to the project and the Applicant has completed Phase 1 and that phase has been Placed-in Service. Accordingly, Phase 1 is not eligible for credits. The other two phases of the project have not yet been completed and have not been Placed-in-Service. The remaining phases of the project would be eligible to receive tax credits.280 R.I. Code R. § 280-RICR-20-20-6.8