§ 136.010

136.010 Definitions for chapter, except KRS 136.500 to 136.575. As used in this chapter, except for KRS 136.500 to 136.575, unless the context requires otherwise: (1) 'Out -of-state business property' means all real and personal property having a taxable situs outside this state owned by a corporation for use in the act ive conduct of a trade or business; (2) 'Personal property' means every species and character of property, tangible and intangible, other than real property; (3) 'Real property': (a) Means all lands within this state and improvements thereon; and (b) For p roperty assessed on January 1, 2024, and on January 1, 2025, includes but is not limited to mains, pipes, pipelines, and conduits that are: 1. Authorized to be installed in, upon, or under any public or private street or place; and 2. Used or to be used fo r or in connection with the collection, transmission, distribution, conducting, sale, or furnishing of heat, steam, water, sewage, natural or manufactured gas, or electricity to or for the public; and (4) 'Tax exempt United States obligations' means all obligations of the United States exempt from taxation under 31 U.S.C. sec.

, natural or manufactured gas, or electricity to or for the public; and (4) 'Tax exempt United States obligations' means all obligations of the United States exempt from taxation under 31 U.S.C. sec. 3124(a) or exempt under the United States Constitution or any federal statute including the obligations of any instrumentality or ag ency of the United States which are exempt from state or local taxation under the United States Constitution or any statute of the United States. Effective: April 17, 2024 History: Amended 2024 Ky. Acts ch. 200, sec. 4, effective April 17, 2024. -- Amended 1996 Ky. Acts ch. 254, sec. 29, effective July 15, 1996. -- Amended 1992 Ky. Acts ch. 333, sec. 1, effective July 14, 1992. -- Amended 1984 Ky. Acts ch. 264, sec. 1, effective July 13, 1984. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1 , 1942, from Ky. Stat. sec. 4022. Legislative Research Commission Note (4/17/2024). Under the authority of KRS 7.136, the reviser of statutes has changed the internal numbering of this statute to place the definitions in alphabetical order. The words in th e statute were not changed.