31 Tex. Admin. Code § 55.206 - Permit Purchase Program

(a) Delegation of Authority. The commission delegates power and authority to the executive director to administer the Floating Cabin Buyback Program.

(b) Permit Buyback Bid Application Period

(1) The department may open one or more permit buyback bid offer application periods per permit year if available funds permit.

(2) The department shall establish during each application period a deadline for receipt of all applications.

(c) Permit Buyback Application Requirements.

(1) The department shall consider all applications to the Floating Cabin Buyback Program provided the applicants meet the following requirements:

(A) a completed Permit Buyback Application form furnished by the department has been submitted to the department by the application deadline;

(B) the applicant is the owner of the permit submitted for buyback; and

(C) the applicant has submitted to the department copies of all supplemental information as required in this subsection.

(2) A completed Permit Buyback Application shall contain:

(A) the full name of the applicant(s) having ownership rights;

(B) the current address of the applicant's residence;

(C) the social security number of the applicant(s);

(D) the applicant's bid offer, in U.S. dollars.

(d) Established Maximum Value Criteria.

(1) The department may, each permit year, establish criteria which will be used as appropriate to assign an Established Maximum Value to each application.

(2) The department will assign an Established Maximum Value to each application according to criteria provided in this section.

(3) The Established Maximum Value for each application will be based on the following criteria:

(A) length, width, and height of floating cabin;

(B) amount of funds accumulated in the Floating Cabin Buyback Fund;

(C) bid offers from previous application periods;

(D) established open market prices for permitted cabins; and

(E) other relevant factors.

(e) Application Ranking Procedures.

(1) Ranking values will be assigned to all applications based on the greatest difference between the Established Maximum Value and the bid offers which are less than the Established Maximum Value.

(2) The department will purchase permits beginning with the highest ranking to the lowest.

(3) Equally ranked bid offers:

(A) If bid offers are equally ranked and one floating cabin is larger in length, width, and height, the department will rank the larger floating cabin ahead of the smaller;

(B) If bid offers are equally ranked and both floating cabins are the same length and width, the department will rank according to the ascending alphabetical order of the applicant's last name.

(C) The department may purchase permits whose offers fall within 10% of the Established Market Value and are greater than the Established Market Value.

(f) Notification of Acceptance or Rejection of Application.

(1) Department will notify each applicant in writing within 45 days of receipt of application regarding acceptance or rejection of application bid offer.

(2) Applicants whose bids are accepted must then notify the department of their intent to accept or reject the offer from the department within 15 days of the postmark of the notification letter sent by the department.

(3) The department may retain unsuccessful applications and include them in the next application period.

(4) The unsuccessful applicant may withdraw, resubmit, or amend an application for consideration during any future application periods.

Notes

31 Tex. Admin. Code § 55.206

The provisions of this §55.206 adopted to be effective February 11, 2002, 27 TexReg 946