Section 8909-G - Administration.(a)Agency guidelines and procedures.--The agency shall issue guidelines and procedures for the administration of the tax credit in conjunction with the qualified allocation plan and when possible, administer the tax credit using the same guidelines, procedures and priorities that the agency uses to administer the Federal housing tax credit.(b) Recapture.--The department, in consultation with the agency, shall establish guidelines that include procedures for recapture of tax credits during the credit period that are similar in structure and effect to events of noncompliance under section 42 of the Internal Revenue Code of 1986 ( Public Law 99-514, 26 U.S.C. § 42). The guidelines shall provide for the mechanism and formula that the tax credit may be recaptured over the remaining credit period.(c) Fraud or misrepresentation.--If a taxpayer engages in fraud or intentional misrepresentation of information required to be provided to the agency or the department under this article or the agency's guidelines, the department may: (1) Recapture all or a portion of the tax credit.(2) Deem ineligible the applicant or taxpayer from future tax credits.(3) Impose other penalties as specified in the agency's guidelines.(d) Fee.--The agency may charge a taxpayer applying for a tax credit a reasonable fee not to exceed 5% of the tax credit awarded for the administrative expenses of the agency for processing applications under this article. Added by P.L. TBD 2020 No. 107, § 3, eff. 11/3/2020.