Sec. 1. 36 MRSA §6652, sub-§1, as amended by PL 1997, c. 729, Pt. B, §1, is further amended to read:

1. Generally. A person against whom taxes have been assessed pursuant to Part 2, except for chapters 111 and 112, with respect to eligible property and who has paid those taxes is entitled to reimbursement of those taxes from the State as provided in this chapter. The amount of reimbursement is the lower of the taxes paid on the eligible equipment or the taxes that would have been paid had the property tax assessment been based on the adjusted basis of the eligible property for federal income tax purposes as of April 1st of the property tax year for which reimbursement is claimed.__For purposes of this subsection, "adjusted basis" means the net book value of the property after depreciation.

Sec. 2. 36 MRSA §6654, as enacted by PL 1995, c. 368, Pt. FFF, §2, is amended to read:

§6654. Claim for reimbursement

A person entitled to reimbursement pursuant to section 6652 may file a claim for reimbursement with the State Tax Assessor. The reimbursement claim must be filed with the State Tax Assessor on or before 60 days after the tax is paid. The State Tax Assessor may extend the date on which the claim for reimbursement is due for good cause. Except as otherwise provided, the claim must be accompanied by the statement obtained by the claimant pursuant to section 6653 and any information required by the State Tax Assessor to verify the adjusted basis of the property for federal income tax purposes. If the claimant requests reimbursement of an amount of tax that differs from the amount of tax specified for the eligible property in the statement provided by the assessor or assessors of the taxing jurisdiction, the claimant must attach to the claim form an explanation of the reasons for that difference and the State Tax Assessor shall determine the correct amount of reimbursement to which the claimant is entitled, taking into consideration both the statement from the assessor or assessors and the taxpayer's explanation. If, for any reason, the claimant is unable to obtain the statement specified in section 6653 from the assessor or assessors within the time specified in section 6653, the claimant must attach to the claim form an explanation of the amount of reimbursement requested and the State Tax Assessor shall process the claim without that statement. If the property taxes are billed in more than one installment, a claimant may submit multiple claims for reimbursement corresponding to the amount of property tax paid with each installment.