A.__Chance of success, including the extent and quality of historical cooperation among local and regional governments and nongovernment organizations;

B.__Estimate and likelihood of property tax savings, including the strength and enforceability of all agreements, contracts and commitments supporting the estimated investment returns;

C.__Ability to replicate the efficiency project in other areas of the State; and

D.__Innovation, creativity and likelihood of stimulating similarly structured projects.

9. Planning grants.__The review panel established pursuant to subsection 5 may award eligible applicants a planning grant, in an amount not to exceed $10,000, to support technical assistance and facilitation needed for development of a proposal for one or more qualifying actions potentially eligible for funding under subsections 6 to 8.__The review panel may award a planning grant under this subsection prior to adoption of rules required under subsection 10.

10.__Rulemaking.__No later than January 1, 2006, the State Planning Office shall adopt rules governing the schedule for submission and action on competitive grant proposals submitted pursuant to subsections 6 and 7, related submission and information requirements including, but not limited to, information that an applicant must provide to demonstrate significant cost savings, the methodology for determining such significant cost savings, the methodology for estimating anticipated return on investment of fund proceeds through issuance of grants and criteria for scoring and prioritizing among grant proposals. The Department of Administrative and Financial Services may adopt any rules necessary for the administration of the fund.__Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

SUMMARY

The School Finance and Tax Reform Act of 2003, as adopted by the voters on June 8, 2004, requires the State to provide 55% of "the total allocation," a term that describes the total state and local financial contribution to the operation of the State's