sec.417Commissioner to extend start date and duration period

### sec.417 Commissioner to extend start date and duration period This section applies if, after an assessment made on the basis of an exemption under division 1 , the commissioner is satisfied the property acquired, insured or held— has not been used solely or almost solely for a qualifying exempt purpose; but will be used solely or almost solely for a qualifying exempt purpose by a later date (the new start date ), and for the period, fixed by the commissioner (the new duration period ) by notice given to the institution. The commissioner must not make a reassessment merely because the property has not been used solely or almost solely for a qualifying exempt purpose if the property starts to be so used by the new start date. s 417 amd 2005 No. 60 s 36 sch 2 ; 2006 No. 44 s 56 ; 2008 No. 39 s 12 (sec.417-ssec.1) This section applies if, after an assessment made on the basis of an exemption under division 1 , the commissioner is satisfied the property acquired, insured or held— has not been used solely or almost solely for a qualifying exempt purpose; but will be used solely or almost solely for a qualifying exempt purpose by a later date (the new start date ), and for the period, fixed by the commissioner (the new duration period ) by notice given to the institution. (sec.417-ssec.2) The commissioner must not make a reassessment merely because the property has not been used solely or almost solely for a qualifying exempt purpose if the property starts to be so used by the new start date. - (a) has not been used solely or almost solely for a qualifying exempt purpose; but - (b) will be used solely or almost solely for a qualifying exempt purpose by a later date (the new start date ), and for the period, fixed by the commissioner (the new duration period ) by notice given to the institution.