§ 489-ggg. Continuation of tax exemption; termination of tax
exemption. The tax exemption approved by the board shall continue in
accordance with this title, 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 finance commissioner 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.