(a) The board shall have the power to adopt, promulgate, modify, amend, and repeal rules and regulations to implement and enforce the provisions of this article as necessary to provide for the redevelopment and return to productive use certain qualifying properties. Such rules and regulations may be applicable to the state as a whole or may vary from region to region, as may be appropriate to facilitate the accomplishment of the provisions, purposes, and policies of this article.
(b) The board's rules and regulations shall include, but shall not be limited to, the following:
(1) Rules and regulations governing the eligibility criteria of prospective purchasers seeking a limitation of liability;
(2) Rules and regulations governing procedures for application and approval of prospective purchasers seeking a limitation of liability; and
(3) Rules and regulations governing procedures and criteria for determining whether a prospective purchaser qualifies for a limitation of liability.
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