(a) The department shall adopt rules outlining formal rulemaking procedures for the low income housing tax credit program and the multifamily housing mortgage revenue bond program in accordance with Chapter 2001.
(b) The rules adopted under Subsection (a) must include:
(1) procedures for allowing interested parties to petition the department to request the adoption of a new rule or the amendment of an existing rule;
(2) notice requirements and deadlines for taking certain actions; and
(3) a provision for a public hearing.
(c) The department shall provide for public input before adopting rules for programs with requests for proposals and notices of funding availability.