Illinois General Assembly - Full Text of HB1518
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Full Text of HB1518  97th General Assembly


Sen. John G. Mulroe

Filed: 5/5/2011





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2    AMENDMENT NO. ______. Amend House Bill 1518 immediately
3below the enacting clause, by inserting the following:
4    "Section 3. The Property Tax Code is amended by changing
5Sections 11-85 and 11-90 and by adding Section 11-80.1 as
7    (35 ILCS 200/11-80.1 new)
8    Sec. 11-80.1. High-speed passenger rail project. Due to the
9importance of developing high-speed or faster rail service, the
10General Assembly finds that it should encourage freight
11railroad owners to participate in State and federal government
12programs, including cooperative agreements designed to
13increase the speed of passenger rail service, that
14participation in those programs should not result in increased
15property taxes, and that such an increase in property taxes
16could negatively impact the participation in those programs.



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1Therefore, the Department shall take into consideration any
2potential increase in a property's overall valuation that is
3directly attributable to the investment, improvement,
4replacement, or expansion of railroad operating property on or
5after January 1, 2010, through State or federal government
6programs, including cooperative agreements, necessary for
7higher speed passenger rail transportation. Any such increase
8in the property's overall valuation that is directly
9attributable to the investment, improvement, replacement, or
10expansion of railroad operating property on or after January 1,
112010, through State or federal government programs necessary
12for higher speed passenger rail transportation, including
13cooperative agreements, shall be excluded from the valuation of
14its real property improvements under Section 11-80. This
15Section applies on and after the effective date of this
16amendatory Act of the 97th General Assembly and through
17December 31, 2019.
18    (35 ILCS 200/11-85)
19    Sec. 11-85. Property schedules. Every railroad company
20shall, on or before June 1 of each year, when required, make
21out and file with the Department a statement or schedule
22showing the property held for right of way, whether owned,
23leased, or operated under trackage right agreement, and the
24length of the first, second, third and other main and all side
25tracks and turnouts, and the number of acres of right of way in



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1each county of this State and in each taxing district of this
2State, through or into which the road may run. It shall
3describe all improvements and stations located on the right of
4way, giving the quantity, quality, character and original cost
5of each. It shall also report all non-operating personalty
6owned or controlled by the company on January 1, giving the
7quantity, quality, character and location of the same. The
8report shall also include any potential increase in the
9property's overall valuation that is directly attributable to
10the investment, improvement, replacement, or expansion of
11railroad operating property on or after January 1, 2010,
12through State or federal governmental programs, including
13cooperative agreements, necessary for higher speed passenger
14rail transportation through December 31, 2019. New companies
15shall make the statement on or before the June 1 after the
16location of their road.
17    When the statement has once been made, it is not necessary
18to report the description as required above unless directed to
19do so by the Department, but the company shall, on or before
20June 1, annually, report all additions or changes in its
21property in this State as have occurred.
22    The return required by this Section should be made by the
23using company, but all property which is operated under one
24control shall be returned as provided in this Section.
25(Source: P.A. 86-905; 88-455.)



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1    (35 ILCS 200/11-90)
2    Sec. 11-90. Information schedules. Each year every
3railroad company in this State shall return to the Department,
4in addition to any other information required by this Code,
5sworn statements or schedules as follows:
6        (a) The amount of capital stock authorized and the
7    total number of shares of capital stock.
8        (b) The amount of capital stock issued and outstanding.
9        (c) The market value, or if no market value then the
10    estimated value, of the shares of stock outstanding.
11        (d) The total amount of all bonds outstanding and all
12    other indebtedness.
13        (e) The market value, or if no market value then the
14    estimated value, of all bonds outstanding and all other
15    indebtedness.
16        (f) A statement in detail of the entire gross receipts
17    and net earnings of the company during the 5 calendar years
18    preceding the assessment date within this State, and of the
19    entire system from all sources.
20        (g) The length of the first, second, third and other
21    main tracks and all side tracks and turnouts showing the
22    proportions within this State and elsewhere.
23        (h) The reproduction cost of the property within
24    Illinois and the total reproduction cost of all property of
25    the company. The reproduction cost, so far as applicable,
26    shall be as last determined by the United States Interstate



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1    Commerce Commission, or other competent authority, plus
2    additions and betterments, less retirements and
3    depreciation to the December 31 preceding the assessment
4    date.
5        (i) An enumeration and classification of all rolling
6    stock and car equipment owned or leased by the company. The
7    classification shall show type of equipment and
8    circumstances of ownership and use. The enumeration shall
9    include rolling stock used over the track of other
10    companies under any trackage right agreement. All other
11    property used in connection with a trackage right agreement
12    shall be listed.
13        (j) Any other information the Department may require to
14    determine the fair cash value of the property of any
15    railroad company, or necessary to carry out the provisions
16    of this Code, including information pertaining to any
17    potential increases in the property's overall valuation
18    that is directly attributable to the investment,
19    improvement, replacement, or expansion of railroad
20    operating property on or after January 1, 2010, through
21    State or federal governmental programs, including
22    cooperative agreements, necessary for higher speed
23    passenger rail transportation through December 31, 2019.
24    Such statements or schedules shall conform to the
25instructions and forms prescribed by the Department.
26    In cases where a railroad company uses property owned by



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1another, the return shall be made by the using company and all
2property operated under one control shall be returned as
3provided above.
4(Source: P.A. 86-905; 88-455.)".