| 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 to the extent that those taxes have |
| not been returned to the taxpayer by the municipality due to |
| the taxpayer's participation in a municipal development |
| district pursuant to Title 30-A, chapter 206, subchapter 1. |
| The combined reimbursement under this chapter and Title 30-A, |
| chapter 206, subchapter 1 may not exceed 100% of the assessed |
| taxes for 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. |
