As used in this chapter, the following words shall have the following meanings:

(1) CLASS II RAILROAD. A carrier classified as a Class II railroad pursuant to 49 CFR § 1201, or other rule adopted by the United States Surface Transportation Board.

Terms Used In Alabama Code 37-11C-2

  • following: means next after. See Alabama Code 1-1-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
  • year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
(2) CLASS III RAILROAD. A carrier classified as a Class III railroad pursuant to 49 CFR § 1201, or other rule adopted by the United States Surface Transportation Board.
(3) DEPARTMENT. The Alabama Department of Revenue.
(4) ELIGIBLE TAXPAYER. A railroad that owns or leases railroad infrastructure in Alabama and is classified by the United States Surface Transportation Board as a Class II or Class III railroad.
(5) ELIGIBLE TRANSFEREE. A taxpayer who is transferred a tax credit allowed by this chapter by an eligible taxpayer.
(6) QUALIFIED RAILROAD REHABILITATION EXPENDITURES. Expenditures within the taxable year for maintenance, deductible maintenance of way expenses, reconstruction, or replacement of railroad infrastructure within the state that is owned or leased by an eligible taxpayer. The term includes new construction of industrial leads, switches, spurs, sidings, and extensions of existing sidings by an eligible taxpayer. The term does not include expenditures for which an income tax deduction has been claimed.
(7) RAILROAD INFRASTRUCTURE. Includes, but is not limited to, the track, roadbed, bridges, signaling systems and train control, industrial leads, and track-related structures owned or leased by an eligible taxpayer.
(8) REHABILITATION PLAN. Detailed construction plans and specifications for the proposed rehabilitation of railroad infrastructure under this chapter.
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