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FAQ
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How soon may I expect a response from my application for preapproval? How does the 45 or 65 day statutory deadline work?
 
Answer:
The State Treasurer or his designee must make a decision on whether to approve or deny a project with total credits of $1 million or less within 45 days. If no decision is made, the application is considered approved. For a project with total credits over $1 million, MEGA must make a decision on whether to approve or deny a project within 65 days. If MEGA does not make a decision within 65 days, the application is sent to the State Treasurer. The State Treasurer then has five (5) days to approve or deny the application. If it is not denied within 5 days, the application is considered approved.

The statutory 45 or 65 day approval timetable will begin when the completed application is physically received. An incomplete application will not be considered and will be returned unprocessed. If resubmitted, the 45 days allowed by law for the State Treasurer or his designee to make a determination will begin again on the date the properly completed application is received.


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