50 IAC 5.1-10-3 Leased distributable property; specific reporting requirements

Sec. 3. (a) The public utility company is primarily responsible for the reporting of the leased distributable property for assessment and taxation, whether such lease is a capital lease or an operating lease. (b) The holder, possessor, or controller of leased distributable property (lessee) shall disclose the leased property on the designated form included with its annual report to the department. In completing the designated form, the holder, possessor, or controller shall include all of the information required by the form. (c) The owner (lessor) of leased distributable property is required to disclose the existence of the leased property to the department. In completing the form designated for such disclosure, the owner shall include all of the information required by the form.