provided in this chapter. The reimbursement under this chapter is |
100% of the taxes assessed and paid with respect to eligible |
property, except that for claims filed for the application period |
that begins on August 1, 2006 the reimbursement is 90% of the taxes |
assessed and paid with respect to eligible property. For purposes |
of this chapter, a tax applied as a credit against a tax assessed |
pursuant to chapter 111 or 112 is a tax assessed pursuant to |
chapter 111 or 112. Eligible property is subject to reimbursement |
pursuant to this chapter for up to 12 property tax years, but the |
12 years must be reduced by one year for each year during which a |
taxpayer included the same property in its investment credit base |
under section 5219-D, 5219-E or 5219-M and claimed the credit |
provided in one or more of those sections on its income tax return, |
and reimbursement may not be made for taxes assessed in a year in |
which one or more of those credits is taken. A successor in |
interest of a person against whom taxes have been assessed with |
respect to eligible property is entitled to reimbursement pursuant |
to this section, whether the tax was paid by the person assessed or |
by the successor, as long as a transfer of the property in question |
to the successor has occurred and the successor is the owner of the |
property as of August 1st, of the year in which a claim for |
reimbursement may be filed pursuant to section 6654. For purposes |
of this paragraph, "successor in interest" includes the initial |
successor and any subsequent successor. When an eligible successor |
in interest exists, the successor is the only person to whom |
reimbursement under this chapter may be made with respect to the |
transferred property. |