(1) As a new industry adds to its plant and properties during the three-year period provided for in 15-6-135 , MCA, the additional property, if it otherwise qualifies, is also classified as new industry property for the remainder of the period.

(2) Classification as new industry property ceases upon sale; transfer; change of possession; or other change in ownership, possession, or control of such property, unless prior to such action, application is made by the transferee for continuation as new industry property and the application is granted by the department. The loss of classification as new industry property does not apply to transactions such as the mortgaging of the property or otherwise using the property as security when there is no change in ownership or possession.

(3) If a qualified new industry ceases to operate as a new industry under the provisions of 15-6-135 , MCA, the classification as new industry property terminates.

(4) If a qualified new industry ceases to operate, either temporarily or permanently, the three-year period continues until its normal expiration date, regardless of subsequent commencement of new operations. Once a date is established it cannot be modified. Following cessation of operation, an application for classification as new industrial property may not be granted unless the new operation is substantially different from the former operation.