Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/11-15

(35 ILCS 200/11-15)

Sec. 11-15.

Method of valuation for pollution control facilities.

To
determine 33 1/3% of the fair cash value of any certified pollution control
facilities in assessing those facilities, the Department shall take into
consideration the actual or probable net earnings attributable to the
facilities in question, capitalized on the basis of their productive earning
value to their owner; the probable net value which could be realized by their
owner if the facilities were removed and sold at a fair, voluntary sale, giving
due account to the expense of removal and condition of the particular
facilities in question; and other information as the Department may consider as
bearing on the fair cash value of the facilities to their owner, consistent
with the principles set forth in this Section. For the purposes of this Code,
earnings shall be attributed to a pollution control facility only to the extent
that its operation results in the production of a commercially saleable
by-product or increases the production or reduces the production costs of the
products or services otherwise sold by the owner of such facility.

(Source: P.A. 83-121; 88-455.)