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35 ILCS 200/11-85
(35 ILCS 200/11-85)
Sec. 11-85. Property schedules. Every railroad company shall, on or before
June 1 of each year, when required, make out and file with the Department a
statement or schedule showing the property held for right of way, whether
owned, leased, or operated under trackage right agreement, and the length of
the first, second, third and other main and all side tracks and turnouts, and
the number of acres of right of way in each county of this State and in each
taxing district of this State, through or into which the road may run. It shall
describe all improvements and stations located on the right of way, giving the
quantity, quality, character and original cost of each. It shall also report
all non-operating personalty owned or controlled by the company on January 1,
giving the quantity, quality, character and location of the same. The report shall also include any potential 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 governmental programs, including cooperative agreements, necessary for higher speed passenger rail transportation through December 31, 2029. New companies
shall make the statement on or before the June 1 after the location of their
road.
When the statement has once been made, it is not necessary to report the
description as required above unless directed to do so by the Department, but
the company shall, on or before June 1, annually, report all additions or
changes in its property in this State as have occurred.
The return required by this Section should be made by the using company, but
all property which is operated under one control shall be returned as provided
in this Section.
(Source: P.A. 101-186, eff. 8-2-19.)
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