(a) A market analysis submitted in conjunction with an application for housing tax credits must:
(1) be prepared by a market analyst approved by the department; and
(2) include an assessment of other developments that are supported by housing tax credits within the market area.
(b) The department, through the qualified allocation plan, shall develop:
(1) a process for approving market analysts; and
(2) a methodology for determining the market area to be examined in a market analysis.