Chap. 477.—An ACT to amend and re-enact section 9 of an act entitled an act
to raise revenue for the: support of the government and the public free
schools, and to pay the interest on the public debt, and to provide a special
tax for pensions, as authorized by section 189 of the Constitution, approved
April 16, 1903, as heretofore amended. (H B 68

Approved March 25, 1920.

1. Be it enacted by the general assembly of Virginia, That section
nine of an act entitled an act to raise revenue for the support of the
<overnment and public free schools, and to pay the interest on the
public debt, and to provide a special tax for pensions, as authorized
by section one hundred and eighty-nine of the Constitution, approved
April sixteenth, nineteen hundred and three, as heretofore amended.
be amended and re-enacted so as to read as follows:
Sec. 9. The taxes on intangible personal property shall be a
follows: On all property embraced in classes one, three and five ir
this schedule, there shall be a tax of sixty-five cents on every hur.
dred dollars of the assessed value thereof, and on all property em:
braced in class two of this schedule, there shall be a tax of seventy
cents on every hundred dollars of the assessed value thereof, whic!
shall be paid into the State treasury and applied to the payment o:
the expenses of the government. And any city in this State may levi
a tax on such property assessed to residents therein at a rate not t
exceed thirty cents on the one hundred dollars of assessed valuatior
thereof; and the board of supervisors of any county may levy a dis-
trict road tax on such property assessed to residents in any magisterial
district proposed to be taxed for district purposes to. be used exclu-
sively for the construction and repair of public roads and bridge:
located within the magisterial district in which said levy 1s laid at a
rate not to exceed thirty cents on the one hundred dollars of assessed
valuation thereof, but this clause shall not be considered to authorize
the board of supervisors of any county to levy such tax against
the residents of any incorporated town within such magisterial district
which maintains its own roads; and any incorporated town in this
State which is exempt by statute or by the express provisions of its
charter from the payment of district road taxes, or which maintains
its own roads, free of expense to the magisterial district, may levy a
tax on such property assessed to residents therein at a rate nat to
exceed thirty cents on the one hundred dollars of assessed valuation
thereof.

On all property embraced in class four of this schedule there shall
be a tax of twenty cents on every one hundred dollars of the assessed
valuation thereof, which shall be paid into the State tréasury and ap-
plied to the expenses of the government. On all property embraced
in class six in this schedule there shall be a tax of thirty-five cents
on every one hundred dollars of the assessed value thereof, which
shall be paid into the treasury of the State. Provided, however, that
from and out of the tax on all such property paid to and retained by
the State for the expenses of the State government there shall be
set aside ten cents on every hundred dollars of the assessed value
thereof, which shall be applied to the support of the public free schools
of this State. Provided, further, however, that in the event any tax-
payer shall fail, without just cause shown, to return for taxation any
intangible personal property under the provisions of this schedule
within the time prescribed by law, and it is ascertained thereafter that
any such property has not been returned for taxation, it shall be
assessed when discovered, and taxed at the full rate of taxation pro-
vided for real estate in this State, which shall include the State rate
and the local rates and levies of the county, district, town or citv
wherein the owner or taxpayer has his legal residence.

The provisions of section eight of this section of this schedule
shall apply with equal force to any person or corporation representing
in this State business interests that may claim a domicile elsewhere.
the intent and purpose being that no non-resident person or corpora-
tion either personally or through any agent, shall transact business
here without paying to the State a corresponding tax with that
exacted of its own citizens, and all bills receivable, obligations or
credits and other intangible assets arising from the business done in
this State are hereby declared assessable within this State and at the
business domicile of said non-resident person or corporation, his or
its agent or representative.

The provisions of this act shall apply to the assessment and col-
lection of State taxes and local levies in the year nineteen hundred
and twenty, and thereafter until otherwise provided by law; provided,
that nothing contained in this act shall affect any additional special
taxes heretofore or hereafter imposed upon the property mentioned
herein.

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

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