Section 27-31-36 - Railroad property owned by limited liability company or other entity wholly owned by railroad authority exempt from ad valorem taxation

All railroad properties and facilities in this state owned by a limited liability company or other entity that is wholly owned by a railroad authority created under Section 19-29-1 et seq., shall be exempt from ad valorem taxation to the same extent as property belonging to such a railroad authority. For the purposes of this section, the term 'railroad properties and facilities' means and has the same definition as that term has in Section 19-29-5.Amended by Laws, 2016, ch. 483, SB 2922, 6, eff. 7/1/2016.