223—48.9 (303,404A) Reserved tax credits.
	 48.9(1) Upon written approval of part two of the project application, the SHPO shall reserve an estimated tax credit under the name of the applicant(s) in an amount equal to 25 percent of the estimated qualified rehabilitation costs for the next available tax credit year.
	 48.9(2) If the amount of estimated qualified rehabilitation costs changes during the course of project implementation, the applicant may include those costs in part three of the application.
	 48.9(3) The SHPO shall not reserve tax credits for more than two state fiscal years beyond the current state fiscal year.