Chap. 485.—JOINT RESOLUTION proposing an amendment to section 170 of the
Constitution of Virginia. [S J R17]

Signed March 18, 1924.

Resolved by the senate, the house of delegates concurring (a majority
of the members elected to each house agreeing), That the following
amendment to section one hundred and seventy of the Constitution of
Virginia, be, and the same is hereby, proposed and referred to the gen-
eral assembly at its first regular session held after the next general
election of members of the house of delegates for its concurrence in con-
formity with the provisions of section one hundred and ninety-six of
the said Constitution, namely;

Strike out from the Constitution of Virginia section one hundred and
seventy, which is in the following words:

Section 170. The general assembly may levy a tax on incomes in
excess of six hundred dollars per annum; may levy a license tax upon
any business which cannot be reached by the ad valorem system; and
may impose State franchise taxes, and in imposing a franchise tax, may,
in its discretion, make the same in lieu of taxes upon other property, in
whole or in part, of a transportation, industrial, or commercial corpora-
tion. Whenever a franchise tax shall be imposed upon a corporation
doing business in this State, or whenever all the capital, however in-
vested, of a corporation chartered under the laws of the State, shall be
taxed, the shares of stock issued by any such corporation shall not be
further taxed. No city or town shall impose any tax or assessment
upon abutting landowners for streets or other public local improve-
ments, except for making and improving the walkways upon then ex-
isting streets, and improving and paving then existing alleys, and for
either the construction, or for the use of sewers; and the same when
imposed, shall not be in excess of the peculiar benefits resulting there-
from to such abutting landowners. I‘xcept in cities and towns, no such
taxes or assessments, for local public improvements, shall be imposed on
abutting landowners.

And insert in lieu thereof the following:

Section 170. The general assembly may levy a tax on incomes in
excess of six hundred dollars per annum; may levy a license tax upon
any business which cannot be reached by the ad valorem system; and
may impose State franchise taxes, and in imposing a franchise tax, may,
In its discretion, make the same in lieu of taxes upon other property,
in whole or in part, of a transportation, industrial, or commercial cor-
poration. Whenever a franchise tax shall be imposed upon a corpora-
tion doing business in this State, or whenever all the capital, however
invested, of a corporation chartered under the laws of the State, shall
be taxed, the shares of stock issued by any such corporation shall not be
further taxed. No city or town or county having the right under this
section to impose taxes or assessments for local improvements upon
abutting property owners shall impose any tax or assessment upon abut-
ting landowners for street or other public improvements, except for
making and improving the walkways upon then. existing streets, and
improving and paving then existing alleys, and for either the construc-
tion, or for the use of sewers; and the same when imposed, shall not be
in excess of the peculiar benefits resulting therefrom to such abutting
landowners. Except in cities and towns, and counties having a popula-
tion greater than five hundred inhabitants per square mile, as shown by
United States census, no taxes or assessments, for local public improve-
ments, shall be imposed on abutting landowners.

I, Jno. W. Williams, clerk of the house of delegates of Virginia, do
hereby certify that the session of the general assembly of Virginia at
which the acts of assembly herein printed were enacted, adjourned sine
die on March eighteenth, nineteen hundred and twenty-four.