| 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 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 |
