New York Laws
Title 2-A - Railroad Real Property of Intrastate Railroad Companies
489-G - System Reproduction Cost.

(b) Such increased depreciation pursuant to paragraph (a) of this
subdivision shall be granted for railroad ceilings established for
assessment rolls filed in two thousand four and thereafter only upon
application of a railroad company. Any increased depreciation shall be
granted to all the tracks owned by the railroad in this state not
otherwise exempt from inclusion in the calculation of railroad ceilings.
Such grant of increased depreciation shall continue for ten years and
may be approved for subsequent periods of ten years upon application and
compliance with the standards established by rule and regulation. The
commissioner shall, in consultation with the department of
transportation and the division of the budget, establish by rule and
regulation the schedules for increased depreciation and standards for
improved service that must be met in order for a railroad to receive
such increased depreciation for railroad ceilings established for
assessment rolls filed in two thousand four and thereafter. A railroad
company that has failed to file an application or failed to meet the
standards for improved services contained in any such rules and
regulations of the commissioner prior to the establishment of railroad
ceilings for assessment rolls filed in two thousand four shall receive
one-half the benefit for increased depreciation that such company would
have received had such application been made and such standards been met
in a timely fashion. The standards for increased depreciation may be
based upon increased tonnage, increased level of passenger service,
increased number of passenger trains and/or improved on-time
performance, increased average speed, and any other factors indicating
improved rail service as the commissioner and the department of
transportation shall specify.