15-6-141. Class nine property -- description -- taxable percentage. (1) Class nine property includes:
     (a) centrally assessed electric power companies' allocations, including, if congress passes legislation that allows the state to tax property owned by an agency created by congress to transmit or distribute electrical energy, allocations of properties constructed, owned, or operated by a public agency created by the congress to transmit or distribute electric energy produced at privately owned generating facilities, not including rural electric cooperatives. However, rural electric cooperatives' property used for the sole purpose of serving customers representing less than 95% of the electric consumers located within the incorporated limits of a city or town of more than 3,500 persons in which a centrally assessed electric power company also owns property is included. For purposes of this subsection (1)(a), "property used for the sole purpose" does not include a headquarters, office, shop, or other similar facility.
     (b) allocations for centrally assessed natural gas companies having a major distribution system in this state; and
     (c) centrally assessed companies' allocations except:
     (i) electric power and natural gas companies' property;
     (ii) property owned by cooperative rural electric and cooperative rural telephone associations and classified in class five;
     (iii) property owned by organizations providing telephone communications to rural areas and classified in class seven;
     (iv) railroad transportation property included in class twelve; and
     (v) airline transportation property included in class twelve.
     (2) Class nine property is taxed at 12% of market value.

     History: En. Sec. 13, Ch. 686, L. 1979; amd. Sec. 1, Ch. 367, L. 1981; amd. Sec. 2, Ch. 478, L. 1981; amd. Sec. 1, Ch. 722, L. 1985; amd. Sec. 4, Ch. 743, L. 1985; amd. Sec. 3, Ch. 7, Sp. L. March 1986; amd. Sec. 6, Ch. 773, L. 1991; amd. Sec. 33, Ch. 505, L. 1997.