Chap. 231.—An ACT to Amend and Re-enact Section 63 of Chapter 385 of
Acts of 1871-'72, as to Collection of Tax on Coupons.

In force March 25, 1873.

1. Be it enacted by the general assembly of Virginia, That
section sixty-three of chapter three hundred and eighty-five of
Acts of eighteen hundred and seventy-one and eighteen hun-
dred and seventy-two, entitled an act imposing taxes for the
support of government and free schools, and to pay the interest
on the public debt, approved April fifth, eighteen hundred and
seventy-two, be amended and re-enacted so as to read as
follows :

§ 63. Out of all interest which shall be due and payable at
the treasury on bonds of the state (whether the same be funded
or unfunded), there shall be retained a tax equal in amount to
fifty cents on the hundred dollars market value of bonds from
which said interest is derived as of the first day of April of
said year; and such bonds shall be exempt in the hands of the
holders thereof from the property tax imposed by the state and
from assessment therefor.

It shall be the duty of the auditor of public accounts and the
second auditor, immediately upon the passage of this act, and on
the first day of April annually thereafter, to ascertain from the best
sources attainable, the market value in currency of state bonds,
both registered and coupon; and it is hereby made the duty of
the auditor of public accounts, immediately after the ascertain-
ment of said value, by circular or otherwise, to forward to every
officer throughout the commonwealth, charged with the collec-
tion of taxes, the value of all coupon bonds ascertained as
aforesaid, who shall deduct from the matured coupon or cou-
pons, which may be tendered to him in payment of taxes or
other dues to the state, such tax as is now or may be hereafter
imposed thereon by the general assembly; and every such col-
lector shall endorse on the back of each coupon out of which
the tax has been so deducted or retained the words “Tax re-
tained $ , and shall sign the same, and account therefor to
the proper officer. All sums so retained shall be paid into the
treasury for the use of the commonwealth.

2. This act shall be in force from its passage.