Chap. 397.-—-An ACT to amend the tax Code of V irginia by adding thereto a
new section to be numbered section 435-a, so as to provide for the partial
taxation of lands or buildings or parts thereof, not belonging to the State,
and owned directly or indirectly by any political sub-division of the State,
and not exclusively used for the purpose of such political sub-division.

[H B 179]
Approved March 25, 1930

1. Be it enacted by the general assembly of Virginia, That the
ax Code of Virginia be amended by adding thereto a new section to
ye numbered section four hundred and thirty-five-a, which new section
hall read as follows:

Section 435-a. In the event any land or buildings constituting any
ortion of any water system or other public utility owned directly or
ndirectly by any political subdivision of the State, shall be legally as-
essable for taxation by any political subdivision other than the owner
f said public utility, such property located without the limits of said
ywner shall be assessed only tor the portion of fair market value there-
of in the proportion that the gross revenues of said utility derived from
consumers outside of the limits of the owner bears to the gross reve-
ques derived from the whole utility; said proportion for the year nine-
‘een hundred and thirty and for each succeeding year to be based on
the gross revenues of the year next preceding, and the commissioner
of revenue shall each year so extend the assessment on his books.
This act shall apply to and be the basis for taxation of such prop-
erty for the year nineteen hundred and thirty and each year thereafter.
The owner of such utility shall annually on or before April first
make report to the commissioner of the revenue of the county in which
any of such property is located showing the gross revenues of said
utility derived from consumers outside of the limits of the owner as
well as the gross revenues derived from the whole utility, and the books
of said owner shall at all reasonable times be open to the inspection
of the commissioner of the revenue of any such county for the ascer-
tainment of such proportion of the revenues.
Provided, however, that the provisions of this act shall not apply
to any land or buildings acquired by any such political subdivision by
condemnation, purchase or otherwise for any such public utility unless
the same shall be actually used and necessary for said public utility.
In the event that any portion of this act be held to be unconstitu-
tional, it is hereby declared to be the intent of the general assembly
that the residue thereof shall remain in full force and effect.