Rules and regulations; promulgation
Sec. 42. (a) The department of local government finance shall
promulgate rules and regulations to provide equal treatment for the
public utility companies within each classification. These rules and
regulations may not:
(1) prohibit the assessment and taxation of a company's
property which is subject to taxation under this chapter; or
(2) prohibit the department of local government finance from
making adjustments in those cases where the rules and
regulations would result in an assessment that would be unfair
to the state or to the public utility company.
(b) The department of local government finance may adopt rules
and regulations to carry out the intent and provisions of this chapter.
The rules and regulations must be consistent with this chapter.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.87.
Last modified: May 28, 2006