103 KAR 8:090. Classification of property; public service corporations.

      RELATES TO: KRS 136.130

      STATUTORY AUTHORITY: KRS Chapter 13A

      NECESSITY, FUNCTION, AND CONFORMITY: This administrative regulation classifies certain property as real estate, personalty and manufacturing machinery. The property involved has been the subject of some confusion in the past. This information is helpful to public service companies in classifying new property.

      Section 1. The Revenue Cabinet prescribes the following classification of property to be used by public service corporations in reporting under KRS 136.120 et seq. This list is not intended to be complete and comprehends only those items of property whose proper classification has been subject to some confusion in the past.

Class of Property	Classification by Revenue Cabinet
Leasehold	Real Estate
Oil wells	Real Estate
Gas wells	Real Estate
Gathering lines	Personalty
Pipe lines (transmission)	Real Estate
Electric transmission lines	Personalty
Electric distribution lines	Personalty
Telephone lines	Personalty
Underground cables	Personalty
Electric substations and transformers	Manufacturing Machinery
Machinery & equipment used in	Manufacturing
manufacture of gas	Machinery
Conduits	Real Estate
Wire contained in underground conduits	Personalty

      (FN-2; 1 Ky.R. 1008; eff. 6-11-75; Am. 8 Ky.R. 68; eff. 9-2-81.)