SB 1673

ON MARCH 9, 2026, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1673, AS AMENDED. AMENDMENT #1 rewrites the bill to, instead, add to the list of companies for which the comptroller of the treasury may assess for taxation, and for state, county, and municipal purposes, all of the properties within the state owned , and all personal property used or leased , m otor bus or truck companies, excluding towing companies, that are either :  Companies that operate commercial motor vehicles exclusively authorized for hire holding United States department of transportation registrations issued by this state through the performance and registration information systems management (PRISM) or the federal motor carrier safety administration (FMCSA), including those owner operators who operate under the motor bus and/or truck company's motor carrier authority, and that (i) a re domiciled in this state or (ii) o wn or lease real or personal property located in this state , or both .  Subsurface passenger transit companies that (i) o perate vehicles primarily through subsurface tunnels or below-ground conduit tunnel systems , (ii) o wn and operate the subsurface tunnels or below-ground conduit tunnel systems that are used for passenger transit , (iii) o wn, use, or lease the vehicles that are used for transporting passengers through the subsurface tunnels or below-ground conduit tunnel systems , and (iv) a re engaged in the business of transporting passengers through subsurface tunnels or below-ground conduit tunnel systems. In addition to the information required to be annually filed with the comptroller of the treasury pursuant to present law , this amendment requires the schedules and statements submitted by subsurface passenger transit companies to include all of the following:  A listing of all tangible personal property that the company owns, uses, or leases in the operation of its business .  A description, including the location and the length in miles, of all conduit tunnels and stations owned by the company .  The total direct and indirect costs associated with making the company operational .  Any other information that the comptroller of the treasury may reasonably require.