Chap. 254.—An ACT to amend and re-enact section 50S of the Code of Vir-
ginia, as heretofore amended, and to appropriate sums collected here
under for the payment of pensions and for the support of the public free
schools of the primary and grammar grades. [S B 317]

Approved March 15, 1918.

Whereas, it is the policy of the State not to collect taxes on
omitted property for a period exceeding three years. Now, there-
fore,

1. Be it enacted by the general assembly of Virginia, That
section five hundred and eight of the Code of Virginia. as amended
by an act approved March twenty-second, nineteen hundred and S1x-
teen, entitled an act to amend and re-enact section five hundred
and eight of the Code of Virginia, etc., be amended and re-enacted
as follows:

Sec, 508. Omitted taxes, levies, etc., how assessed.—If the com-
missioner of the revenue, examiner of records or other assessing
officer, commission or board designated by law to assess persons,
property (real, personal and mixed), taxes, levies, et cetera, ascer-
tain that any person, or any real or personal property, or income,
or salary, or license tax, or inheritance tax has not been assessed,
for any year of the three years next preceding that in which such
ascertainment is made, by the State, county, district, city or town,
or that the same has been assessed at less than the law required for
any one or more of such years, or that the taxes, levies, et cetera,
thereon, for any cause, have not been realized, it shall be the duty
of the commissioner of the revenue, examiner of records, or other
ene officer, to list the same and assess persons, property (real,
personal and mixed), and levies at the rate prescribed for that year,
adding thereto interest at the rate of six per centum per annum
from the time such taxes should have been paid, and any treasurer
collecting such taxes and levies shall also collect the penalty thereon
prescribed by section six hundred and three of the Code.

9. Within the period prescribed in this section the examiner of
records and the county and city treasurers are hereby authorized,
unless the assessment on intangible personal property, money, in-
heritances and income for omitted taxes have already been made,
to use the same methods of ascertaining and reporting property for
assessment and for the assessment and collection of all omitted taxes
on intangible personal property, money, incomes and inheritances
as are authorized to be used for the assessment and collection of
current taxes and shall receive the commissions allowed by law.

3. All State taxes hereafter assessed and collected under this
act are hereby appropriated to the public free schools of the primary
and grammar grades, except the State taxes hereafter assessed and
eo}lected for pensions.

4. Nothing contained in this act shall operate to invalidate or
defeat any assessment of property or income or inheritance or any
suit or action for the collection of any taxes, made or commenced
prior to the date on which this act shall become effective; provided
also that this act shall not apply to the assessment of any taxes or
levies by action, suit or otherwise, based upon valuations to estab-
lish which any petition shall have been filed with the State corpora-
tion commission prior to the date when this act shall become
effective.

5. All acts and parts of acts in conflict with this act are hereby
repealed.

6. An emergency existing, this act shall be in force from its

passage.