dliu1/legal-llama-raw-text huggingface dataset:
in  a  timely  fashion.  The standards for increased depreciation may be
based upon increased tonnage,  increased  level  of  passenger  service,
increased   number   of   passenger   trains   andor  improved  on-time
performance, increased average speed, and any other  factors  indicating
improved  rail  service  as  the  commissioner  and  the  department  of
transportation shall specify.
Average  railway  earnings. 1. The average railway earnings
shall be determined for each railroad company as follows:
(a) Ascertain so far as may be practicable  the  revenues  which  such
railroad  company is entitled to receive from transportation service and
from rents from property constituting the railroad  system  included  in
the system reproduction cost;
(b)  Ascertain  so  far as may be practicable the expenses incurred in
furnishing transportation service, including expenses  incurred  in  the
operation  and  maintenance  of  the  property constituting the railroad
system included in the system reproduction cost,  depreciation  of  such
property,  rents  and  other expenses incurred for property used by such
railroad company for transportation purposes not included in the  system
reproduction  cost,  and  United  States  government  taxes  for old-age
retirement under  the  federal  railroad  retirement  tax  act  and  for
unemployment insurance under the federal railroad unemployment insurance
act but excluding all other taxes;
(c)  Subtract  the  expenses from the revenues and the result shall be
the railway earnings; and
(d) Average the railway earnings for the latest  five  calendar  years
available  prior to the tentative determination of the railroad ceiling.
The result shall be the average railway earnings.
2. In making determinations under this section, the commissioner shall
consider the information  contained  in  the  income,  profit  and  loss
statements  and other financial statements of the railroad company filed
with the interstate commerce  commission,  and  the  accounting  records
maintained  by  such  railroad  company  in  accordance with the uniform
system of accounts for railroad companies prescribed by  the  interstate
commerce commission. The commissioner may consider information available
from  the  commissioner  of  transportation  or  other regulatory agency
having jurisdiction over the accounts of such railroad company, as  well
as  information available from other sources, including reports required
pursuant  to  section  four  hundred  eighty-nine-q   and   such   other
information on the subject as may be available to it.
Earnings ratio. The commissioner shall determine the earnings
ratio for each railroad company by ascertaining the ratio of its average
railway  earnings  to  its  system  reproduction  cost,  computed to the
nearest hundredth of one per cent.
Exemption  factor.  (a)  In  accordance  with the policy of
granting increasingly greater exemptions as the rate of  earnings  of  a
railroad  company  declines,  the  exemption  factor  for  each railroad
company shall be determined in accordance with its earnings  ratio.  For
each  railroad company the percentage indicated under exemption factor
in the following table opposite the earnings ratio of such company shall
be the exemption factor. If the earnings ratio  of  a  railroad  company
does not coincide with a specific earnings ratio indicated in the table,
the   exemption   factor   for  such  company  shall  be  determined  by
interpolation to the nearest tenth of one percent.
Earnings Ratio                         Exemption Factor
(Percent)                               (Percent)
10                                      0
9                                      5
8                                     10
7                                     15
6                                     20
5                                     30
4                                     40
3                                     50
2                                     60
1                                     80
0                                     80
(b) Notwithstanding the provisions of subdivision (a) of this section,
for purposes of determining railroad ceilings for  intrastate  railroads
for assessment rolls completed in two thousand three and thereafter, the
percentage  indicated  under  exemption  factor  in  the table in this
subdivision opposite the earnings ratio of the railroad company shall be
the exemption factor for each railroad company. If the earnings ratio of
a railroad company does not coincide  with  a  specific  earnings  ratio
indicated  in  the  table  in this subdivision, the exemption factor for
such company  shall  be  determined  by  interpolation  to  the  nearest
hundredth of one percent.
Earnings Ratio                Exemption Factor
(Percent)                     (Percent)
12                              0
11                              5
10                             10
9                             15
8                             20
7                             25
6                             30
5                             35
4                             40
3                             50
2                             60
1                             80
0                             85
(c) Notwithstanding the provisions of subdivision (b) of this section,
whenever  it  shall  appear  that an exemption factor is decreasing more
than one-tenth from the exemption factor established in the prior  year,
such decrease may not exceed one-tenth.
Unadjusted  local  reproduction cost and local reproduction
cost.    1.  The  commissioner  shall  determine  the  unadjusted  local
reproduction  cost  for  each railroad company in each assessing unit as
(a) Ascertain in each assessing unit the cost of reproduction new less
depreciation of the railroad real property other than land;
(b) Ascertain in each assessing unit the value of the land portion  of
railroad  real  property  and  the value of rights in land in, above and
under any public street,  highway  or  parkway  used  by  such  railroad
company;
(c)  Add  the  amounts  ascertained  under  (a) and (b) above for each
assessing unit. The result shall be the  unadjusted  local  reproduction
2.  The  commissioner  shall determine the local reproduction cost for
each railroad company in each assessing unit as follows:
(a) Compute the ratio of the  total  amount  included  in  the  system
reproduction  cost  of  such railroad company on account of the property
included in the unadjusted local reproduction costs  for  all  assessing
units  to  the  aggregate of the unadjusted local reproduction costs for
all assessing units for such railroad company;
(b) Multiply the unadjusted local reproduction cost for each assessing
unit by the ratio computed in (a) above. The result shall be  the  local
reproduction cost.
3. In making determinations under this section, the commissioner shall
classify   the  real  property  of  each  railroad  company  as  between
transportation or non-transportation so far as may be practicable.
4. In  ascertaining  depreciation  of  property  under  this  section,
consideration  may be given to physical condition, average service lives
of groups of property and  other  factors,  which,  however,  shall  not
5.  As  used in this section, the term value of land means the value
of similar land in the immediate vicinity used for other  than  railroad
transportation  purposes and the term value of rights in land in, above
and under any public street, highway or parkway means ten per  cent  of
6.  The determinations made under this section shall reflect so far as
may  be  practicable  the  status  of  the  property  as   of   December
thirty-first of the preceding year.
7. In making determinations under this section, the commissioner shall
consider  the  information  contained in accounts maintained pursuant to
the uniform system of accounts for railroad companies prescribed by  the
interstate commerce commission and in the publication entitled Elements
of  Value or Property Used in Common Carrier Service then most recently
and  from  other sources, including reports required pursuant to section
four hundred eighty-nine-q, and such other information on the subject as
may be available to it.
State equalization rate. 1. In determining railroad ceilings,
the  commissioner shall apply the latest state equalization rate for the
assessing unit, except that, if a special  equalization  rate  has  been
established  as  provided  in subdivision two of this section, such rate
shall be applied. For the purposes of this title, the equalization  rate
to  be  applied  in  computing railroad ceilings in the city of New York
shall be computed by the  commissioner  on  a  city-wide  basis,  giving
appropriate  weight  to  the  latest state equalization rates or special
equalization rates of the five counties within such city.
2. The commissioner shall establish a special  equalization  rate  for
the  purposes  of this section where there has been a change in level of
assessment on the assessment roll for which a railroad ceiling is to  be
determined,  subject to the provisions of title two of article twelve of
this chapter, or the state equalization rate  that  would  otherwise  be
applied  reflects the level of assessment on the property subject to the
railroad ceiling or where a final state equalization rate has  not  been
established for the assessment roll of the preceding year.
Railroad real property used for transportation purposes. In
making determinations as to railroad real property  which  is  used  for
transportation  purposes,  the commissioner shall consider the manner in
which  property  is  classified  as  property  used  for  transportation
purposes  in  accounts  maintained  pursuant  to  the  uniform system of
accounts for railroad companies as prescribed by the interstate commerce
commission and the commissioner of transportation and in the publication
of the interstate commerce commission entitled  Elements  of  Value  of
Property  Used  in  Common  Carrier  Service  as  well  as  information
available from other sources, including  reports  required  pursuant  to
section four hundred eighty-nine-q.
Tentative  determination  of  railroad  ceiling;  notice,
complaints and hearing. 1. Each  year  the  commissioner  shall  make  a
tentative  determination  of  each  railroad  ceiling.  Thereafter,  the
commissioner shall give notice in writing to  each  assessing  unit  and
each  railroad  company  for  which  such  tentative  determination of a
railroad ceiling shall have been made  specifying  the  amount  of  such
ceiling  and the time and place where the commissioner will meet to hear
any complaint concerning such tentative determination. Such notice  must
be  served  at  least  twenty  days  prior to the date specified for the
hearing.
2. A railroad company or  assessing  unit  objecting  to  a  tentative
determination  of the railroad ceiling must serve its complaint upon the
commissioner in writing and a copy thereof upon the  assessing  unit  or
railroad  company, as the case may be, at least five days before the day
specified for the hearing, specifying its objections to  such  tentative
determination.  Service  may  be made either in person or by mail. On or
before the date specified for the hearing an affidavit of service  shall
be  filed  with  the  commissioner stating in substance that service has
been made in accordance with the provisions of this section.
3. The commissioner shall meet at the time and place specified in such
notice to hear complaints in relation to the tentative determination  of
the  railroad  ceiling. The provisions of section five hundred twelve of
this chapter shall apply so far as may be practicable to a hearing under
this section. Nothing contained in this subdivision shall  be  construed
to require a hearing to be conducted when no complaints have been filed.
Final  determination  of  railroad ceiling; certificate. 1.
After the hearing provided for in section four hundred eighty-nine-n  of
this  title, the state board of real property tax services shall finally
determine the railroad ceiling for the railroad real  property  of  each
railroad   company  situated  in  each  assessing  unit.  Whenever  upon
complaint the state board shall revise the local reproduction cost of  a
railroad  company  in  an  assessing  unit, it shall revise the railroad
ceiling therefor to reflect such revision, but it shall not, on  account
of  such  revision,  modify  any other determination with respect to the
railroad  ceilings  for   such   railroad   company   for   such   year.
Notwithstanding  the  fact  that no complaint shall have been filed with
respect to a tentative determination of a railroad  ceiling,  the  state
board  shall  give  effect to any special equalization rate established,
pursuant to subdivision two of section  four  hundred  eighty-nine-l  of
this title prior to the final determination of the railroad ceiling.
2.  Not later than ten days before the last date prescribed by law for
the levy of taxes, the state board  shall  file  a  certificate  setting
forth  each  railroad ceiling as finally determined with the assessor of
the appropriate assessing unit  or  the  town  or  county  assessor  who
prepares  a copy of the applicable part of the town or county assessment
roll for village tax  purposes  as  provided  in  subdivision  three  of
section fourteen hundred two of this chapter, and at the same time shall
transmit  to  each  railroad  company  for  which  such ceiling has been
determined a duplicate copy of such certificate.
3. Any final determination of a railroad ceiling by  the  state  board
pursuant to subdivision one of this section shall be subject to judicial
review in a proceeding under article seventy-eight of the civil practice
law and rules.
Application of railroad ceiling; computation of exemption.
1.  Upon receipt of a certificate setting forth the railroad ceiling for
a railroad company, the assessor shall compute for  his  assessing  unit
the   aggregate   of   the  assessed  valuations  and  portions  thereof
attributable to railroad real property of such railroad company included
in the railroad ceiling.  If the aggregate of such assessed  valuations,
as  so  computed,  does  not  exceed  the  ceiling  as  set forth in the
certificate for  the  railroad  company,  the  assessor  shall  make  no
adjustment  in  such assessed valuations.  If, however, the aggregate of
such assessed valuations, as so computed, shall  exceed  the  amount  of
such  ceiling  as  set  forth  in  the  certificate,  such railroad real
property shall be exempt from taxation to the extent of such excess  and
the  assessor  shall  forthwith  reduce the assessments of such railroad
real property of such railroad company, so that  the  aggregate  of  the
taxable  assessed  valuations  of  such  property  shall not exceed such
ceiling; provided, however, that the assessor shall make  no  adjustment
in  such assessed valuations if the company failed for any reason to pay
within thirty days of the date when due the tax levied upon the  taxable
portion  of  the assessment of any railroad real property of the company
set forth on the immediately preceding assessment roll of any  assessing
unit  unless  the  payment  or  enforcement of such tax is restrained or
the bankruptcy act of the United States.  In reducing  such  assessments
for  the  purpose  of giving effect to exemptions granted by this title,
the assessor shall distribute such reduction to the parcels affected  in
direct  proportion  to  the  assessed  valuations  of such railroad real
property  included  in  the  assessment  of  each  parcel  as  initially
determined  by  the assessor.   The amount so deducted from the assessed
valuation of each parcel shall be  set  forth  on  the  portion  of  the
assessment roll provided for property exempt from taxation.  The taxable
portion  of  the assessment remaining on railroad real property shall be
apportioned among the school districts and special districts directly in
proportion to the apportionments of  the  assessed  valuations  of  such
railroad  real property made by the assessor prior to the adjustment for
the exemption resulting from application of the railroad ceiling.    All
certificates  of  railroad  ceilings shall be attached to the assessment
roll or filed  therewith  as  provided  in  article  fifteen-C  of  this
2.    The  assessor  is  hereby  authorized  and  directed to make the
reductions, if any, provided for in this section on the assessment  roll
notwithstanding  the  fact  that  he  may receive the certificate of the
railroad ceiling after the final completion, verification and filing  of
such   assessment   roll.     Other  local  officers,  including  school
authorities  having  custody  and  control  of  such  roll,  are  hereby
authorized  and  directed,  on  the  basis of information which shall be
furnished by the assessor, to make the reductions provided for  in  this
3.    In assessing units for which he is required by law to prepare an
assessment roll, the assessor of a county having a county department  of
assessment shall perform all the acts prescribed for an assessor by this
title.  Where  a  village  has  enacted  a  local  law  as  provided  in
subdivision three of section fourteen hundred two of this  chapter,  the
assessor  of  the  town or county who prepares a copy of this applicable
part of the town or county assessment  roll  for  village  tax  purposes
shall  also  perform  the acts prescribed for assessors by this title on
behalf of the village.
Reports to commissioner. Each railroad company shall furnish
the commissioner the following:
1. A  copy  of  all  income,  profit  and  loss  and  other  financial
statements  filed  with  the  interstate  commerce  commission  and  the
commissioner of transportation; and
2. Such other reports as  the  commissioner  may  from  time  to  time
require  containing  such  information  and  data  as  it  may  specify,
including cost and valuation data relating to or  an  inventory  of  the
railroad  real property of such company situated in each assessing unit,
in order to carry out the provisions of this title.
3. Each railroad company shall pay  an  annual  charge  to  the  state
office.    All  costs  and  expenses  of  the  state  office, direct and
indirect, incurred in the establishment of railroad ceilings pursuant to
this title shall be paid from the collection of an  annual  charge  upon
railroad   companies.   The  commissioner  shall  provide  by  rule  for
computation of this charge through the apportionment of these costs  and
expenses  to  railroad companies in direct relation to the value of such
real property subject to the ceiling. Charges shall be  subject  to  the
annual  approval  of the director of the budget. Any unpaid charge shall
be a lien upon the  assets  of  the  company  and  may  be  enforced  by
appropriate administrative and judicial proceedings commenced by counsel
to the state office.
4.  Any  railroad  company  failing  to make any report required by or
pursuant to this section within  a  reasonable  time  specified  by  the
commissioner  shall  forfeit  to  the people of the state the sum of one
hundred dollars for each failure and the additional sum of fifty dollars
for each day that such failure continues. Acknowledgment of  receipt  of
blank reports which contain the penalty provisions of this section shall
be deemed sufficient notice of such penalties.
Inspection of accounts and property of railroad companies. 1.
The  commissioner  or its authorized representative shall have access at
reasonable times to all accounts and records established and  maintained
by  a  railroad company relating to its property used for transportation
purposes and the earnings derived therefrom.
2. The commissioner or its authorized representative  shall  have  the
power  at  reasonable times to enter in or upon and to inspect the road,
equipment, structures and other property of any railroad company.
Estimated  railroad  ceiling. Upon application of a county,
city,  town,  village,  school  district  or   special   district,   the
commissioner   shall  establish  estimated  railroad  ceilings  for  the
assessment roll or rolls used thereby. Such estimated railroad  ceilings
may  be  used  in  the computation of average full valuation for tax and
debt limit purposes in accordance with the provisions of section 2.00 of
the local finance law.
Inapplicability of title. The provisions of this title shall
not apply to railroad real property which  is  owned  by  or  under  the
jurisdiction, supervision or control of either an industrial development
agency or a municipal corporation.
Capital improvements to railroad property. 1. As used in this
(a) Completed capital project shall mean a capital project which has
been  certified by the commissioner to be completed in accordance with a
capital project proposal approved by the commissioner.
(b) Capital project proposal shall mean a proposal,  prepared  by  a
railroad  company  and submitted to the commissioner, which sets forth a
proposed capital project. Such proposal shall include a  description  of
the proposed capital project and conditions relating to railroad tracks,
roadbeds,  bridge  and structural improvements, improvements to railroad
yards,  switches,  sidings,   or   other   facilities,   signal   system
improvements,  or  other  railroad projects that improve the efficiency,
capacity, or safety  of  railroad  facilities.  The  proposal  shall  be
reviewed  by  the commissioner and shall be approved if the commissioner
determines that the proposed project is consistent with  the  provisions
of   paragraph  (e)  of  this  subdivision  and  rules  and  regulations
prescribed by the department pursuant to this section.  Capital  project
proposals  that  have  been  approved by the commissioner may be amended
with the approval of the commissioner.
(c) Commissioner shall mean the commissioner of the New  York  state
department of transportation.
(d)   Department  shall  mean  the  New  York  state  department  of
transportation.
(e) Capital project shall mean a construction  project  which  shall
modify  railroad  facilities  to  substantially  improve the efficiency,
capacity, or safety of railroad freight or passenger transportation,  as
determined by the commissioner, in one or more of the following manners:
(i)   a   substantial   enhancement   in  rail  freight  or  passenger
transportation performance, such as upgrading the class of the  railroad
track  as track classes are defined in the track safety standards of the
United States department of transportation;
(ii) the construction of significant new facilities for  rail  freight
or  passenger  transportation,  such as the construction of new railroad
lines, additional tracks  along  existing  lines,  sidings,  structures,
yards,  stations, signal systems or switching facilities, and intermodal
facilities, including, but not limited to,  automotive,  bulk  transfer,
trailer on flatcar, container on flatcar, and reload facilities; and
(iii)  major  renovations  to  or expansions of components of railroad
infrastructure, such as the reconstruction of bridges or the increase in
bridge capacity, the expansion of railroad  yards,  or  the  substantial
improvement of the technology or safety of signal systems.
2.  (a)  A  railroad  company  shall  propose a capital project to the
commissioner for approval under this section on forms prescribed by  the
department.  The  commissioner  shall  approve capital project proposals
that are consistent with  the  terms  of  this  section  and  rules  and
regulations  prescribed by the department. The commissioner shall notify
the submitting railroad company within  thirty  days  of  receipt  of  a
proposal  whether  or  not the commissioner considers the proposal to be
consistent with the definition of a capital  project  as  set  forth  in
paragraph (e) of subdivision one of this section.
(b)  Upon  a  railroad  company's  completion of the construction of a
capital project, such railroad  company  may  make  application  to  the
commissioner for certification under this section on forms prescribed by
the  department. If the commissioner finds that such capital project was