(a) Application. The Governor of the State shall make application
addressed to the Secretary of Labor, no later than July 1 of a taxable
year with respect to which a State requests waiver and substitution. Any
such application shall contain the supportive data and information
required by Sec. 606.22(b) for the purposes of Secs. 606.20(a)(2) and
606.21(b). The Governor is required to notify the Department on or
before October 15 of such taxable year of action occurring after the
date of the initial application and effective prior to October 1 of such
year that would impact upon the State's application.
(b) Notification of determination. The UIS Director will make a
determination on the application as of November 10 of the taxable year,
will notify the applicant and the Secretary of the Treasury of the
resulting tax credit reduction to be applied, and will cause notice of
such determination to be published in the Federal Register.