(1) If the net generating output of the facility is offered for sale as prescribed by law, an electrical generation facility and related delivery facility may qualify for a property tax exemption, reduced tax rate, or credit as provided in the applicable statute.

(2) In order to qualify for the exemption, reduced tax rate, or credit, where there is a contract, an application form, which is available from the department, must be provided containing the following:

(a) total amount of power contracted;

(b) total power capacity of the plant;

(c) term of the contract (length in years) - if less than 20 years, proof of an offer for the remaining years will be required by a specific date; and

(d) cost-based rate of return.

(3) In order to qualify for the exemption, reduced tax rate, or credit, where there is an offer, but not a contract, the following must be provided:

(a) proof of publication of the offer in the legal section of the following six Montana newspapers:

(i) Montana Standard;

(ii) Tribune;

(iii) Gazette;

(iv) Independent Record;

(v) Chronicle; and

(vi) Missoulian; and

(b) a copy of the publication in the newspapers set forth in (3) (a) , which must include:

(i) the offer to sell the applicable percentage of a facility's net generating output to customers at a cost-based rate including the:

(A) amount of power being offered;

(B) price; and

(C) term;

(ii) the date when the offer ends (must be open for a minimum of 15 calendar days from the final date of publication in the newspapers) ; and

(iii) the appropriate person to contact regarding the offer.