| |
Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
REVENUE (35 ILCS 200/) Property Tax Code. 35 ILCS 200/11-45
(35 ILCS 200/11-45)
Sec. 11-45.
Method of valuation for low sulfur dioxide emission coal fueled
devices. To determine 33 1/3% of the fair cash value of any low sulfur dioxide
emission coal fueled device, the Department shall determine the net value which
could be realized by its owner if the device were removed and sold at a fair,
voluntary sale, giving due account to the expense of removal, site restoration,
and transportation. That net value shall be considered to be 33 1/3% of fair
cash value.
(Source: P.A. 82-134; 88-455.)
|
35 ILCS 200/11-50
(35 ILCS 200/11-50)
Sec. 11-50.
Certification and assessment authority.
For tax purposes, a low
sulfur dioxide emission coal fueled device shall be certified as such by the
Pollution Control Board and shall be assessed by the Department.
(Source: P.A. 82-134; 88-455.)
|
35 ILCS 200/11-55
(35 ILCS 200/11-55)
Sec. 11-55.
Approval procedure.
Application for approval of a low sulfur
dioxide emission coal fueled device shall be filed with the Pollution Control
Board in the manner and form prescribed by that board. The application shall
contain appropriate and available descriptive information concerning anything
claimed to be entitled to tax treatment as a low sulfur dioxide emission coal
fueled device as defined in this Code. If it is found that the claimed device
meets that definition, the Pollution Control Board, acting through its Chairman
or its specifically authorized delegate, shall enter a finding and issue a
certificate that requires tax treatment as a low sulfur dioxide emission
coal fueled device. The effective date of a certificate shall be on January
1 preceding the date of certification or preceding the date construction
or installation of the device commences, whichever is later.
(Source: P.A. 82-134; 88-455.)
|
35 ILCS 200/11-60
(35 ILCS 200/11-60)
Sec. 11-60.
Judicial review; pollution control and low sulfur devices.
Any
applicant or holder aggrieved by the issuance, refusal to issue, denial,
revocation, modification or restriction of a pollution control certificate or a
low sulfur dioxide emission coal fueled device certificate may appeal the
finding and order of the Pollution Control Board, under the Administrative
Review Law.
(Source: P.A. 82-783; 88-455.)
|
35 ILCS 200/11-65
(35 ILCS 200/11-65)
Sec. 11-65.
Procedures for assessment; pollution control and low sulfur
devices. Proceedings for assessment or reassessment of property certified to be
pollution control facilities or low sulfur dioxide emission coal fueled devices
shall be conducted in accordance with procedural regulations issued by the
Department, in conformity with this Code.
(Source: P.A. 82-134; 88-455.)
|
35 ILCS 200/Art. 11 Div. 3
(35 ILCS 200/Art. 11 Div. 3 heading)
Division 3.
Railroads
|
35 ILCS 200/11-70
(35 ILCS 200/11-70)
Sec. 11-70.
Assessment of railroad companies; definitions.
These words and
phrases, for the assessment of the property of railroad companies, and unless
otherwise required by the context shall be defined as follows:
(a) "Railroad company," "railroad," or "company" means any person, company,
corporation or association owning, operating or constructing a railroad, a
suburban or interurban railroad, a switching or terminal railroad, a railroad
station, or a railroad bridge in this State.
(b) "Operating property" means all tracks and right of way, all structures
and improvements on that right of way, all rights and franchises, all rolling
stock and car equipment, and all other property, real or personal, tangible or
intangible connected with or used in the operation of the railroad including
real estate contiguous to railroad right of way or station grounds held for
reasonable expansion or future development.
(c) "Non-operating personalty" means all personal property, tangible and
intangible, held by any railroad company and not included in the definition of
"operating property".
(d) "Non-carrier real estate" means all land, and improvements on that land,
not situated on the right of way of the railroad and not used as operating
property within the meaning of the definition in paragraph (b). Improvements
owned by others and situated on the right of way not used in the operations of
the railroad shall be deemed to be "non-carrier real estate." The Department
shall adopt proper rules and regulations to determine whether any property is
"non-carrier real estate."
(e) "Trackage rights" or "trackage right agreement" means the right by
which one railroad company operates trains in scheduled service over tracks
owned and used by another railroad company and the valuation of trackage rights
shall include the value of all rolling stock, and all tangible or intangible
personal property used or connected therewith.
(Source: P.A. 81-1stSS-1; 88-455 .)
|
35 ILCS 200/11-75
(35 ILCS 200/11-75)
Sec. 11-75.
Assessment date for railroad companies.
The Department shall
assess all property owned or used by railroad companies operating within this
State, as of January first annually, except property found by the Department to
be non-carrier real estate.
The assessment of the property of any railroad company shall be based upon
the value of property defined in Section 11-70, less the percentage of the
total value which consists of operating or non-operating personal property.
(Source: P.A. 86-173; 86-905; 86-1028; 88-455.)
|
35 ILCS 200/11-80
(35 ILCS 200/11-80)
Sec. 11-80.
Assessment procedure for railroad companies.
In assessing
the taxable property of any railroad company, the Department shall first
determine 33 1/3% of the fair cash value of all the property of any railroad
company as a unit, but shall make due allowance for any non-carrier real estate
and all personalty.
The Department shall take into consideration the actual or market value of
the shares of stock outstanding, the actual or market value of all bonds
outstanding and all other indebtedness as is applicable, for operating the
road. In determining the market value of the stock or indebtedness the
Department shall consider quotations for the 5 years preceding the assessment
date; the net earnings of the company during the 5 calendar years preceding the
assessment date; and such other information as the Department may consider as
bearing on the fair cash value of the property. The valuation by the
Department shall include capital stock and all other property of railroad
companies, except non-carrier real estate. The above facts shall not be
conclusive upon the Department in determining 33 1/3% of the fair cash value of
the property of a railroad company.
The Department shall determine the equalized assessed value of the taxable
property of every railroad company by applying to its determination of 33 1/3%
of the fair cash value of the property an equalization factor equal to the
statewide average ratio of the equalized assessed value of locally assessed
property to 33 1/3% of the fair cash value of such locally assessed property.
The Department shall assess the value of all operating property acquired by a
railroad company or its wholly-owned subsidiary by trade with a municipality,
which is situated in a state contiguous to Illinois, at no greater value than
the value of the operating property traded to the municipality for the property
by the railroad company. The value shall be that value established for the
year immediately preceding the calendar year of the trade. The assessment
shall not increase, but may decrease, during the 10 years following the
calendar year of the trade.
(Source: P.A. 86-173; 86-905; 86-1028; 88-455.)
|
35 ILCS 200/11-80.1 (35 ILCS 200/11-80.1) Sec. 11-80.1. High-speed passenger rail project. Due to the importance of developing high-speed or faster rail service, the General Assembly finds that it should encourage freight railroad owners to participate in State and federal government programs, including cooperative agreements designed to increase the speed of passenger rail service, that participation in those programs should not result in increased property taxes, and that such an increase in property taxes could negatively impact the participation in those programs. Therefore, the Department shall take into consideration any potential increase in a property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal government programs, including cooperative agreements, necessary for higher speed passenger rail transportation. Any such increase in the property's overall valuation that is directly attributable to the investment, improvement, replacement, or expansion of railroad operating property on or after January 1, 2010, through State or federal government programs necessary for higher speed passenger rail transportation, including cooperative agreements, shall be excluded from the valuation of its real property improvements under Section 11-80. This Section applies on and after the effective date of this amendatory Act of the 97th General Assembly and through December 31, 2029.
(Source: P.A. 101-186, eff. 8-2-19.) |
|
|
|