HARRY HUGHES, Governor                                         53

the county property tax, and the municipal corporation
property tax.

Defined term: "Property" § 1-101

(U) OPERATING PROPERTY.

(1)  "OPERATING PROPERTY" MEANS ANY PROPERTY USED TO
OPERATE A RAILROAD OR PUBLIC UTILITY.

(2)  "OPERATING PROPERTY" INCLUDES LAND THAT IS USED
DIRECTLY TO OPERATE A RAILROAD OR PUBLIC UTILITY.

REVISOR'S NOTE: This subsection is new language added for
clarity.

Defined terms: "Includes";"including" § 1-101

(V) OPERATING UNIT.

(1)  "OPERATING UNIT" MEANS, AS DETERMINED BY THE
DEPARTMENT, ALL OF THE OPERATING PROPERTY OF A RAILROAD OR A
PUBLIC UTILITY.

(2)  "OPERATING UNIT" INCLUDES OPERATING PROPERTY THAT
IS LOCATED OUTSIDE OF THE STATE.

(3)  "OPERATING UNIT" DOES NOT INCLUDE MORE THAN 1
RAILROAD OR PUBLIC UTILITY FOR WHICH SEPARATE ACCOUNTS ARE KEPT,
UNLESS THE DEPARTMENT FINDS THAT:

(I)  THE ACCOUNTS ARE UNDER THE SAME OR COMMONLY
CONTROLLED MANAGEMENT; AND

(II)  THE INCLUSION IS NECESSARY TO DETERMINE
THE VALUE OF THE OPERATING PROPERTY.

REVISOR'S NOTE: This subsection is new language added to
clarify the unit that is used by the Department to
determine the value and assessment of operating
property.

Defined terms: "includes";"including" § 1-101
"Operating property" § 1-101 "Value" § 1-101

(W) PERSON.

"PERSON" MEANS AN INDIVIDUAL, RECEIVER, TRUSTEE, GUARDIAN,
PERSONAL REPRESENTATIVE, FIDUCIARY, OR REPRESENTATIVE OF ANY KIND
AND ANY PARTNERSHIP, FIRM, CORPORATION, OR OTHER ENTITY.

REVISOR'S NOTE: This subsection is new language added to
set forth a broad definition of the word "person" as
used in this article. Present Art. 81, § 2(5) merely
states that "person" includes a corporation.