Chap. 140.—An ACT providing for the taxation of shares of stock
issued by banks located in counties and cities.

Approved February 28, 1890.

1. Be it enacted by the general assembly of Virginia,
That hereafter each county or city in which any bank,
either national or state, is so located, may, subject to the
conditions mentioned below, tax all the shares of stock
issued by any such bank so located within it limits at the
same rate as is assessed upon other moneyed capital in the
hands of individuals residing in such county or city.

2. That in so taxing said shares the said county or city
authorities, respectively, shal] follow the mode of assess-
ment and manner of collection prescribed by statute for
the collection of state taxes upon said shares.

3. Whenever any commissioner of the revenue, before
closing his assessment rolls or tax lists, shall receive from
the cashier of a bank furnishing a list of the holders of
bank stock, as required by law for the purposes.of state
taxation, or from the owner of any stock mentioned
therein, a certificate of the commissioner of the revenue
of the county or city of the state in which the owner of
such stock lives, stating that certain shares of the stock
mentioned in said list are owned by a resident of that
county or city, and that the same have been returned for
taxation for that year in such city or county, then the said
commissioner of the revenue to whom the said list of the
holders of such bank stock has been furnished, shall de-
duct from the aggregate value of the shares set forth in
said list the aggregate value of the shares mentioned in
said certificate. The shares owned by non-residents of
this state shal] be taxed only at the place where the bank
issuing the shares is located.

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