Property owned or used by public utility company
Sec. 1. The property owned or used by a public utility company
shall be taxed in the manner prescribed in this chapter. Property used
by a public utility company consists of property which the company
uses under an agreement whereby the company exercises the
beneficial rights of ownership for the major part of a year. When
reference is made in this chapter to the "property of" a public utility
company or to the public utility "company's property", the reference
includes the property owned or used by that company.
(Formerly: Acts 1975, P.L.47, SEC.1.)
Last modified: May 28, 2006