(a) The comptroller shall evaluate an application by an eligible entity for the financing under Section 1232.104 of the acquisition, construction, or improvement of alternative fuels infrastructure and shall determine whether the proposed project will increase energy or cost savings to the applicant.
(b) The authority may not issue an obligation under Section 1232.104 unless the comptroller certifies that the proposed project will increase energy or cost savings to the applicant.
(c) The comptroller by rule may adopt procedures and standards for the evaluation of an application for the financing of a proposed project under Section 1232.104.