This rule identifies: 1) procedures by which the Governor's Office of Economic Development may enter into an agreement with a qualified hotel owner for the development of a qualified hotel and authorize a tax credit under the New Convention Facility Development Incentive Act; 2) minimum criteria for an agreement with a qualified hotel owner; 3) roles and responsibilities of the independent review committee; 4) sales and use taxes available to measure and calculate the income tax credit; 5) procedures for calculating the income tax credit; 6) funding for the local portion of the income tax credit from local sales and use tax revenue; and 7) administrative procedures of the Hotel Impact Mitigation Fund.