(a) “Sale” and “purchase,” for purposes of this part, do not include any transfer of title to, nor any lease of, tangible personal property pursuant to an acquisition sale and leaseback. An acquisition sale and leaseback is a sale by a person and leaseback to that person of tangible personal property where both of the following conditions are satisfied:

1. (1) That person has paid sales tax reimbursement or use tax with respect to that person’s purchase of the property.
2. (2) The acquisition sale and leaseback is consummated within 90 days of that person’s first functional use of the property.