NORTH CAROLINA GENERAL ASSEMBLY
1973 SESSION

CHAPTER 783
HOUSE BILL 1208

AN ACT TO MODIFY THE DEFINITIONS OF PUBLIC SERVICE COMPANIES SUBJECT TO APPRAISAL BY THE STATE BOARD OF ASSESSMENT.

The General Assembly of North Carolina enacts:

Section 1.  Subdivision (9) of G.S. 105-333 is rewritten to read as follows:
"(9)	'Locally assigned rolling stock' means motor vehicles (other than passenger cars and service vehicles) which are owned or leased by a motor freight carrier company and specifically assigned to a terminal or other premises and regularly used at the premises to which assigned for the pick up and delivery of local freight."
Sec. 2.  Subdivision (10) of G.S. 105-333 is rewritten to read as follows:
"(10)	'Motor freight carrier company' means a public service company engaged in the business of transporting property by motor vehicle for hire over the public highways of this State, whether the transportation be within, into, or from this State. With respect to intrastate carriers, this definition shall apply only to those motor freight carriers which are engaged in the business of transporting property by tractor trailer to or from two or more terminals owned or leased by the carrier in this State, whether or not the carrier is regulated by the North Carolina Utilities Commission."
Sec. 3.  Subdivision (14) of G.S. 105-333 is rewritten to read as follows:
"(14)	'Public service company' means railroad company, pipeline company, gas company, electric power company, electric membership corporation, telephone company, telegraph company, bus line company, motor freight carrier company, airline company, and any other company performing a public service that is regulated by the Interstate Commerce Commission, the Federal Power Commission, the Federal Communications Commission, the Federal Aviation Agency, or the North Carolina Utilities Commission except a water company, a radio common carrier company as defined in G.S. 62-119(3), a cable television company, or a radio or television broadcasting company. (For purposes of appraisal under this Article, this definition shall include a pipeline company whether or not it performs a public service and whether or not it is regulated by one of the agencies named in the preceding sentence.)"
Sec. 4.  Subdivision (16) of G.S. 105-333 is rewritten to read as follows:
"(16)	'Rolling stock' means buses, trucks, tractor trucks, trailers, semitrailers, combinations thereof, and other motor vehicles (except passenger cars and service vehicles), and railroad locomotives and cars, which are propelled by mechanical or electrical power and used upon the highways or, in the case of railroads, upon tracks."
Sec. 5.  Subdivisions (6) and (20) of G.S. 105-333 are repealed, and the remaining subdivisions, as amended by this act, are renumbered accordingly.
Sec. 6. Subdivision (b)(1) of G.S. 105-335 is rewritten to read as follows:
"(1)	System Property. Each year, as of January 1, the State Board of Assessment shall appraise at its true value (as defined in G.S. 105-283) the system property used by each public service company both inside and outside this State. Property leased by a public service company shall be included in appraising the value of its system property if necessary to ascertain the true value of the company's system property."
Sec. 7.  This act shall become effective on January 1. 1974.
In the General Assembly read three times and ratified, this the 23rd day of May, 1973.