CA SB1394

Repeals the definition of "class of private railroad cars" and changes the valuation methodology to include additions and betterments in the owner's acquisition cost, less depreciation.

Shifts the assessment basis from car days to mileage, commencing with the 2018-19 fiscal year, using the ratio of miles in California to total miles.

Requires the 2017-18 fiscal year assessment to use both mileage and car days equally weighted for the 2016 calendar year as a transition year.

Amends Section 11294 to exclude car days (instead of car mileage) when determining averages for cars undergoing repairs exceeding 10 man-hours.

Takes effect immediately as a tax levy, requiring a 2/3 vote of each house of the Legislature.