US Laws, Codes, Statutes & Cases

 
    §  11-253 Continuation of tax exemption; termination of tax exemption.
  The tax exemption approved by the board  shall  continue  in  accordance
  with  this part, provided that the applicant files an annual certificate
  of continuing use stating that the structure and property continue to be
  used for the industrial or commercial purposes justifying  the  issuance
  of  the  certificate  of  eligibility. The certificate of continuing use
  shall be filed with the  tax  commission  on  such  form  or  forms  and
  containing   such   information  as  shall  be  prescribed  by  the  tax
  commission. The tax commission shall have authority to terminate  a  tax
  exemption  on  failure  of an applicant to file an annual certificate of
  continuing use or on the recommendation of the commissioner  of  finance
  who,  in reviewing the certificate filed by an applicant, has determined
  that the structure or property has ceased to be used for the  industrial
  or  commercial  purposes  justifying  the issuance of the certificate of
  eligibility.