(35 ILCS 200/11-115)
Failure to file schedules.
In case any railroad company
neglects to return to the Department any statements or schedules required to be
returned to the Department, within the time required, the Department shall
proceed to assess the property of the railroad company according to its best
information and judgment at 33 1/3% of its fair cash value, and may add to the
valuation thereof an amount equal to 50% of the valuation. If good cause is
shown, the Department may, in its discretion, grant reasonable extensions of
time for filing any required statement or schedule.
Anyone who makes any statement or schedule to the Department and wilfully
swears falsely in any material matter shall be guilty of perjury and punished
No railroad company wilfully refusing or neglecting to return any information
required by this Code shall be heard to object to the legality of its
assessment in any court of this state.
(Source: P.A. 79-703; 88-455.)