MS SB2601

Changes filing deadline for railroad and public service corporation property schedules from first Monday in April to first day of April each year.

Reduces maximum extension period for filing schedules from thirty (30) days to twenty (20) days.

Reduces the objection period for assessments from thirty (30) days to twenty (20) days for railroads, public service corporations, and airline companies.

Changes apportionment filing deadline from first day of August to the last day of the objection period established for assessments.

Modifies penalty provisions to allow (rather than require) the Department of Revenue to impose a penalty of up to ten percent (10%) on companies that fail to file required schedules.