Chap. 342.—An ACT to amend and re-enact an act entitled an act to amend and
re-enact the first subdivision of section 8, chapter 1, of an act entitled an act tc
provide for the assessment of taxes on persons, preperty and incomes, and on
licenses to transact business, and imposing taxes thereon for the support of the
government and public free schools, and to pay the interest on the public debt,
and to prescribe the mode of obtaining Heenses to sell wine, ardent: spirits,
malt liquors, or anv mixture thereof, in cases where a court certificate is re-
quired, approved March 6, 1890, so as to provide for the listing of bonds, notes,
stocks and other evidences of debt subject to taxation, approved January 20,
1SOX,

Approved February 14, 1&¢8.

1. Be it enacted by the general assembly of Virginia, That an act

entitled an aet to amend and re-enact the first subdivision of section
eight, chapter one, of an aet entitled an act to provide for the assess-
ment of taxes. on persons, property and incomes, and on licenses to
transact business and imposing taxes thereon for the support of the
government and public free schools, and to pay the Interest on the
pub ie debt. and preseribing the mode of obtaining licenses to sell wine,
ardent spirits, malt liquors or any mixture thereof, in cases where a
court certificate is required, approved March six, eightee n hundred and
ninety, so as to provide for the listing of bonds, notes, stocks and other
evidences of debt subject to taxation, approved January twentieth,
elghteen hundred and ninety-eight, be amended and re-enacted so as to
read as follows:

S$ 8. On personal property, choses in action, moneys, credit and capi-
tal.—The commissioner shall require each person, natural or artificial,
residing in his district, city or town, to make out and deliver to said
commissioner a list in detail of the date, amount for which originally
given, but not the name of the debtor, the dates and amounts of the
credits thereon, the balance due, and the time of payment of all bonds,
notes, stocks and other evidences of debt due and payable to such per-
son, In excess of one hundred dollars, and a statement of the aggregate
amount of all bonds, notes, stocks and other evidences of debt under
one hundred dollars each. The auditor of public accounts shall fur-
nish the necessary blanks for such lists and statements to the commis-
sioner of the revenue.

This list and statement shall be signed and sworn to by the tax-paver
before the commissioner of the revenue, or some notary public or other
person authorized to administer oaths, who shall certify that said list
was signed and sworn to before him. The commissioner shall sign the
list and determine the value of the bonds, notes, stocks, and other evi-
dences of debt therein enumerated, subject to an appeal from his valua-
tion to the county or corporation court. The said list and statement
shall include bonds of railroad and canal companies, bonds of counties,
cities, towns, and bonds of other states and corporations, certificates of
stock in anv incorporated company, bonds of individuals, and all de-
mands and claims, however evidenced, owing or coming to such person,
whether due or not, from debtors residing out of or within the state or
county, whether secured by deed of trust or by judgments or not, de-
duc ting from the aggregate amount thereof all such bonds, demands,
claims not otherwise deducted, owing to others,as such principal debtor,
and not as guarantor, endorser, or surety; but not deducting any money
that may he dueto others on account of the purchase of securities which are
non-taxrable, nor shall such deduction of indebtedness be made fram stock
any bank or banking institutton, such stock being tared otherwise than under
this act, but no bond, demand, or claim constituting a part of the capital as
Ai fined in chapter one of this act, of a business done out of this state, or
any capital used by any merchant or manufacturer, and taxed under
chapter one of this act. shall be included in this section.

The lst and statement herein provided for shall be delivered by said
commissioner to the clerk of the county or corporation court of this
county or city, who shall file the same in his oflice properly labeled,
keeping the list for each vear separate. If any person, firm or corpora-
tion shall, with a view to evade the pavment of taxes, fail or refuse to
make out and deliver under oath such list and statement as herein pro-

vided for of any bonds, notes, stocks or other evidences of debt, which are
subject to assessment and taxation under chapter one of this act, then
the omitted evidence of debt shall not be recoverable by action at Jaw
or sult In equity in any of the courts of this commonwealth or by any
lezal process, or by sale under deed of trust, or otherwise, until thev
shall have been reported for assessinent, and the tax paid ‘thereon for
the vears that it should have been paid, with an addition of fifty per
centum of the amount of said unpaid taxes, and the failure to make
out and deliver such list and statement to the said commissioner shall be
taken as prima facie evidence of the intention to so evade the payment
of taxes,

2. The arnditor of public accounts, when he furnishes the necessary blanks
ax above provided, shall include in the form of oath which he shall append
thereto the statement thatno part of the indebtedness clanned by the tarpayer
as a deduction from the amount of all bonds, notes, stceks and other evidences of
deht due to such tarpayer is on account of the purchase of securities whieh are
non-tacable, and further, that no part of seid indebted uess was created with a
purpose to evade the payment of tares; and any onewho shall sign and swear
to a false list shall he deemed guilty of perjury. But where any such action
at law or suit in equity it is ascertained that there are unpaid taxes and
penalties on the evidence of debt sought to be enforced, and the suitor
makes affidavit that he is unable to pay these taxes and penalties, but
is willing for the same to be paid out of the first recovery on the evidence
of debt, “the court shall have authority to enter as a part of any judg-
ment or deeretal order in said proceeding, that the amount of taxes
and penalties due and owing shall be paid to the proper officer out o!
the first collection on said judgment or decree.

3. All acts and parts of acts inconsistent with this act are hereby re-
pealed.

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