WILLIAM DONALD SCHAEFER, Governor                    Ch. 322

(c) Personal property is a class of property and is divided
into the following subclasses:

(1)  stock in business;

(2)  distilled spirits;

(3)  operating property of a railroad;

(4)  operating property of a public utility;

(5)  the transportation property described in § 6-103
of this article; AND

(6)   [rolling stock; and

(7)] all other personal property that is directed by
this article to be assessed.

[8-110.

(a)  Rolling stock that habitually is used on a railroad in
this State shall be valued to the owner of the rolling stock as
personal property is valued.

(b)  The value of the rolling stock that is allocated to
this State is based on the ratio that the total number of miles
traveled by the rolling stock in this State bears to the total
number of all miles traveled by the rolling stock.

(c)  The value of rolling stock that is allocated to this
State under subsection (b) of this section shall be subject to
the State property tax as provided by § 6-301 of this article.]

8-201.

The Department shall assess:

(1)  operating property, except land, of a railroad or
a public utility;

(2)  tangible personal property of a corporation;

(3)  intangible personal property, as set forth in §
6-101 of this article; AND

(4)   [rolling stock used on a railroad, as set forth
in § 8-110 of this title; and

(5)] distilled spirits, as set forth in § 8-111 of
this title.

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