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development of alternative energy sources; <br /> <br /> (vi~ medical device technology, which is any technology <br />that involves medical equipment or products other than a <br />pharmaceutical product that has therapeutic or diagnostic value <br />and is regulated; or <br /> <br /> (viii) advanced vehicles technology which is any technology <br />that involves electric vehicles, hybrid vehicles, or aEernatlve <br />fuel vehicles, or components used in the construction of <br />elecfl'ic vehicles, hybrid vehicles, or alternative fuel <br />vehicles. An electric vehicle is a road vehicle that draws <br />propulsion energy only from an on-board source of electrical <br />energy. A hybrid vehicle is a road vehicle that can draw <br />propulsion energy from-both a consumable fuel and a rechargeable <br />energy storage system. <br /> <br />(d) The authority to grant new abatements under this <br />subdivision exp,'es on July 1, 2004. <br /> <br /> Subd. 7. Review and modification of abatements. The <br />political subdivision ma~, provide in the abatement resolution <br />that the abatement may not be modified or changed during its <br />term. If the abatement resolution does not provide that the <br />abatement may not be modified or changed, the gover[~ing body of <br />the political subdivision may review and modify the abatement ' <br />every second year after it was approved. <br /> <br /> Subd. 8. Limitation on abatements, in any year, the <br /> <br />total amount of property taxes abated by a political subdivision <br />under this section may not exceed (1) ten percent of the current <br />levy, or (2) $200,000, whichever is greater. The limit under <br />this subdivision does not apply to an uncollected abatement from <br />a prior year that is added to the abatement levy. <br /> <br />Subd. 9. Consent of property owner not required. A <br />political subdivision may abate the taxes on a parcel under <br /> <br />-344- <br /> <br /> <br />