54:29A-17.1 - Valuation; improvements to capital facilities - New Jersey Statutes

54:29A-17.1.  Valuation;  improvements to capital facilities    The value of all property used for railroad purposes of each railroad shall  be ascertained without including any part of the value of improvements to  capital facilities undertaken pursuant to the provision of a contract with the  State Highway Commissioner or pursuant to the provision of an agreement with a  municipality, where such improvements were made after January 1, 1963. For the  purpose of this section  "improvements to capital facilities"  shall mean the  construction, reconstruction, relocation, establishment, improvement (by way of  betterments, additions or otherwise) or rehabilitation in connection with  passenger service of passenger stations and terminals, automobile parking  facilities for railroad patrons, track connections, signal systems, power  systems, roadbeds, equipment storage and service facilities, and shall include  the reconstruction or rehabilitation of railroad passenger cars, locomotives, self-propelled passenger carrying rail cars.

     L.1963, c. 96, s. 1.  Amended by L.1964, c. 251, s. 10, eff. Jan. 1, 1966.