Section 110.101 Railroads

Section 110

Section 110.101  Railroads

a)         All companies, corporations or associations 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 shall

make a return of property on Form Nos. PTAX-501 through PTAX-513 and PTAX-531

through PTAX-537.  Operating companies shall return all railroad property which

they use exclusively whether owned by subsidiaries, leased lines or others, and

they shall also list jointly used and owned property in which they have

preponderant interest.  Joint facilities in which interests are equal shall be

listed by only one of the using companies.  Companies which do not engage in

railroad operations, but merely hold title to railroad property, shall return

all such property used jointly by others.  Owning companies shall make sure

that users list all property as required by this Regulation.

b)         Companies, corporations or associations with Class II through

Class IV railroad operations shall return the results of railroad operations,

detailed information for joint facilities and depreciation expenses, road and

equipment property and railroad operating statistics on Form Nos. PTAX-520-A

through PTAX-523.  Information collected on the forms shall be similar to that

collected on portions of returns made for Class I railroad operations on the

federal R-1 annual report to the Interstate Commerce Commission or its

successor agency.  Class I through Class IV railroads shall be those classes as

defined by the Interstate Commerce Commission or its successor agency.

c)         Legal Description.  All railroad companies shall file

periodically with the Department and with county clerks the location and legal

description of their right of way, track, improvements, trackage rights, operating

property off the right of way and non-carrier real estate in Illinois on

Schedules R-1 to R-7b inclusive

d by the Interstate Commerce Commission or its successor agency.

c)         Legal Description.  All railroad companies shall file

periodically with the Department and with county clerks the location and legal

description of their right of way, track, improvements, trackage rights, operating

property off the right of way and non-carrier real estate in Illinois on

Schedules R-1 to R-7b inclusive.  Except as otherwise may be ordered by the

Department, this requirement shall be fulfilled by the annual substitution of

revised and corrected sheets for those pages made obsolete by changes in the

right of way.

d)         Form Nos. PTAX-501 through PTAX-513, PTAX-520-A through

PTAX-523 and PTAX-531 through PTAX-537 and Schedules R-1 to R-7b shall be filed

annually with the Department at its Springfield office between the 1st day of

April and the 1st day of June.  If a railroad company fails to timely file

documents required under this Section the Department shall assess the property

of the railroad company according to the Department's best information and

judgment at 33 1/3 percent of the property's fair cash value and may add to

that valuation an amount equal to 50 percent of its valuation in accordance

with Section 11-115 of the Property Tax Code [35 ILCS 200/11-115].