Section 350-30-005 - PUBLIC SERVICE ENTITIES005.01 Taxpayer's Responsibilities 005.01A On or before January 1 of each year, a public service entity shall report to the assessor all non-operating taxable property of such company located in the county.005.01B On or before April 15 of each year, a public service entity engaged in business in Nebraska shall furnish a complete report to the Property Tax Administrator on prescribed forms.005.01C Any sale of a public service entity shall be reported by the purchaser to the Property Tax Administrator within thirty (30) days from the date of the sale. The purchaser shall identify the seller, date of the sale, any change in name of the entity, and the purchase price.005.02 Property Tax Administrator's and Tax Commissioner's Responsibilities and Penalties 005.02A The Property Tax Administrator may assess a penalty, in the amount of one hundred ($ 100.00) dollars per day, but not exceeding ten thousand ($10,000.00) dollars, for failure or refusal to furnish the complete and accurate information required by the report specified in REG-30-005.01B. The penalty is collected by the Tax Commissioner. Upon written request by the public service entity, the Tax Commissioner may waive the penalty in whole or in part for good cause shown. 005.02A(1) In the event that the public service entity shall feel aggrieved as to the assessment of a penalty, an appeal may be filed with the Tax Commissioner pursuant to the Practice and Procedure Regulation, Chapter 90. 005.02B Upon written request and for good cause shown, the Property Tax Administrator may allow up to a fifteen (15) day extension of time to file the reports required in REG-30-005.01B. Such extension shall not exceed fifteen (15) days after April 15.005.02C The Property Tax Administrator may request in writing additional information regarding any sale of a public service entity, or other information needed to ascertain valuation.005.02D All information reported by the public service entity, not available from other public sources, and any memorandum thereof shall be confidential and available to taxing officials only.005.03 Assessment 005.03A The Property Tax Administrator shall ascertain as of January 1, 12:01 a.m. annually the taxable value of the public service entity, by determining the sum of: 005.03A(1) The actual value of the operating entity, allocated to Nebraska, less a deduction for the actual value of the tangible personal property; and005.03A(2) The net book value of all tangible personal property of the entity allocated to Nebraska. For more information regarding the valuation of taxable personal property, see Personal Property Regulations, Chapter 20. 005.03B The deduction for the actual value of tangible personal property from the public service entity's unit value shall be based on a factor representing the company's gross book personal property divided by the gross book of their operating property, as determined from its balance sheet or regulatory reports.005.03C The formula for allocation of taxable value shall be established by the Property Tax Administrator on a fair and reasonable basis. The Property Tax Administrator may adjust the formula by industry or by entity if such adjustment is warranted.005.03D On or before July 25, each public service entity shall be mailed a draft appraisal of its allocated taxable value as determined by the Property Tax Administrator.005.03E The company may meet informally with the Property Tax Administrator through August 5 to discuss the proposed valuation or method of allocation.005.03F The public service entity's Nebraska allocated actual value, excluding the actual value of the tangible personal property, shall be equalized by the Tax Equalization and Review Commission.005.03G On or before August 10, the Property Tax Administrator shall certify to each public service entity, a final appraisal showing the total allocated taxable value for property tax purposes and the distribution of that value to the counties and subdivisions therein in which its property has situs.005.03H On or before August 10, the Property Tax Administrator shall distribute the total taxable value to each county in which the public service entities have property. The distribution shall be in proportion to the ratio of the original cost of all owned or leased operating real and tangible personal property of the public service entity having situs in that taxing subdivision to the original cost of all owned or leased operating real and tangible personal property of that entity having situs in the state. For purposes of this subsection, original cost shall include the capitalized value of all leased property held by the entity.005.03I If the distribution pursuant to the statute does not fairly represent the proportion of taxable value allowable to the county, the public service entity may petition for, or the Property Tax Administrator may require, the inclusion of any other method to equitably distribute the value of the public service entity for purposes of taxation.005.03J On or before August 10, the Property Tax Administrator shall certify to each assessor in which the public service entity is located, the taxable value as distributed to the county and subdivisions therein to be used as a basis for levy.005.04 Taxation Of Distributed Value005.04A The assessor shall include the distributed taxable value of the public service entity, as certified by the Property Tax Administrator, on the personal property tax list. The taxes so levied shall be collected by the county and shall be due and payable in the same manner as personal property taxes pursuant to Neb. Rev. Stat. Sections 77-203 and 77-204. Interest shall accrue on any delinquent tax at the rate specified in Neb. Rev. Stat. Section 45-104.01. 005.04A(1) From the date the taxes are due and payable, they shall be a first lien upon the personal property of the public service entity until paid.005.05 Appeals 005.05A In the event the public service entity shall feel aggrieved as to the valuation or method of allocation established, an appeal may be filed with the Tax Commissioner pursuant to the Practice and Procedure Regulation, Chapter 90, on or before September 10.005.05B The Tax Commissioner shall act upon the appeal and shall issue a written order a copy of which shall be mailed to the public service entity within seven (7) days after the date of the order. The Tax Commissioner's order may be appealed within thirty (30) days after the date of the order to the Tax Equalization and Review Commission pursuant to Neb. Rev. Stat. Section 77-5013.350 Neb. Admin. Code, ch. 30, § 005