Section 1162. Financial assistance; criteria and standards; regulations

1.
  The corporation is authorized to promulgate  regulations,  developed  in
  consultation  with  the commissioner and the director of the division of
  the budget, for the purpose of carrying out its  responsibilities  under
  this   title,   including   establishing   criteria  and  standards  for
  determining the amount and kind of financial assistance to  a  recipient
  for  an  eligible  project.  To  the  extent  financial  assistance to a
  recipient for an eligible project is provided from the proceeds of bonds
  or notes of the corporation, the amount of an allocation  applicable  to
  the  portion  of  such  eligible  project  financed  with such financial
  assistance shall be determined by the  corporation  in  accordance  with
  such regulations, if any.
    2.  The  department is authorized to promulgate regulations, developed
  in consultation with the director of the division of the budget and  the
  corporation,  for the purpose of carrying out its responsibilities under
  this title.