Chap. 906.—An ACT to amend and re-enact section 8 of an act approved
March 6, 1890, as amended by an act approved February 14, 1898, of an act
entitled an act to provide for the assessment 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 public debt, and prescribing the mode of obtaining
licenses to sell wine, ardent spirits, malt liquors, or any mixture thereof,
in cases where a court certificate is required in relation to the tax on
bonds, notes and other evidences of debt, and on stocks, and so as to impose
a tax on ground rents as personal property.

Approved March 6, 1900.

1. Be it enacted by the general assembly of Virginia, That section
eight of an act approved March sixth, eighteen hundred and ninety,
ax amended by an act approved February fourteenth, eighteen hundred
and ninety-eight, of an act entitled an act to provide for the assessment
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 public debt, and
prescribing 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 sixth, eighteen hundred and ninety, be
amended and re-enacted so as to read as follows:

§ 8. 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, and other evidences of debt due and payable to such person in
excess of one hundred dollars, and a statement of the aggregate amount
of all bonds, notes, and other evidences of debt under one hundred
dollars each. The auditor of public accounts shall furnish the necessary
blanks for such lists and statements to the commissioner 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, and other
evidences of debt therein enumerated, subject to an appeal from his
valuation to the county or corporation court. The said list and state-
ment shall include bonds of railroad and canal companies, bonds of
counties, cities, towns, and bonds of other states and corporations, bonds
of individuals, and all demands and claims, however evidenced, which
shall include all ground rents and like charges reserved by any deed or
covenant whatsoever, which, for purposes of taxation, shall be con-
sidered personal property, 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, deducting
from the aggregate amount thereof all such bonds, demands, or 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 be due to others on account of the purchase of securities which
are non-taxable, nor shall such deduction of indebtedness be made
from stock in any bank or banking institution, such stock being taxed
otherwise than under this act, but no bond, demand, or claim con-
stituting a part of the capital as defined 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 value of such ground rent or other like
charge shall be estimated and charged at a sum equal to a principal
sum, the interest of which at the legal rate of interest (six per centum),
will produce a sum equal to such annual rent or charge, and if payable
in any other thing except money, the value of the rent or charge to be
ascertained by the assessor, and if the name of the person entitled to
receive such rent or charge cannot be ascertained by the assessor, it
shall be assessed against the tenant in possession of the real estate upon
which it is charged.

The list and statement herein provided for shall be delivered by said
cemmissioner to the clerk of the county or corporation court of his
county or city, who shall file the same in his office properly labelled,
keeping the list for each year separate. If any person, firm, or cor-
poration shall, with a view to evade the payment of taxes, fail or
refuse to make out and deliver under oath such list and statement as
herein provided for of any bonds, notes, 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
law or suit in equity in any of the courts of this commonwealth or |
any legal process, or by sale under deed of trust, or otherwise, until
they shall have been reported for assessment, and the tax paid thereon
for the years 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.

The auditor of public accounts, when he furnishes the necessary
blanks as above provided, shall include in the form of oath which he
shall append thereto the statement that no part of the indebtedness
claimed by the taxpaver as a deduction from the amount of all bonds,
notes, and other evidences of debt due to such taxpayer is on account
of the purchase of securities which are non-taxable; and further, that
no part of said indebtedness was created with a purpose to evade the
payment of taxes; and any one who shall sign and swear to a false
list shall be deemed guilty of perjury. But where in 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 judgment or decretal order in said proceeding that the amount of
taxes and penalties due and owing shall be paid to the proper officer
out of the first collection on said judgment or decree.

Second. He shall ascertain from each person in his district, city, or
1004 ACTS OF ASSEMBLY.

town the ‘value of capital, including moneys, credits, or other thing
remaining invested, whether said investment was made originally in
this state or any other state or country, and the value of all capital
loaned, used, or employed in business out of this state by himself, his
agent, or other person for him.

Third. He shall ascertain the value of all capital of incorporated
joint stock companies not otherwise taxed, and when such capital is
taxed by the state of Virginia, the shares of stock in the hands of indi-
vidual shareholders shall not be further taxed for state purposes; but
real estate belonging to such company shall not be held to be capital,
but shall be listed and taxed as property, and not as capital.

Fourth. He shall ascertain from each person in his district, city, or
town the amount of capital invested, used or employed in any trade or
business not otherwise taxed. Moneys and credits actively used and
employed in carrying on the trade or business, including goods, wares,
and merchandise on hand, and all solvent bonds, demands, or claims
made or contracted in the course of business during the preceding year
shall be held to be capital in such trade or business, and shall not be
taxed otherwise than as such capital; but real estate shall not be listed
as such capital, but shall be assessed and taxed as other specific prop-
erty; but nothing herein shall be held to exclude from taxation any
property which is subject to such business.

Fifth. He shall ascertain from each person residing in his district,
city, or town the aggregate amount of money and the value of principal
and interest of personal estate and credits under his control as court
receiver or commissioner, in pursuance of any order, judgment or
decree of any court as agent, guardian, or other fiduciary. And it
shall be the duty of the clerks of courts to furnish commissioners with
a list of all evidences of debts under the control of courts, receivers, or
commissioners, as evidenced by decrees of the courts.

Sixth. He shall ascertain the amount of any money and the value
of any personal estate or credits deposited to the credit of any suit and
not in the hands of a receiver.

Seventh. Ife shall ascertain the value of all toll bridges, turnpikes,
and ferries in his district other than steam ferries.

Eighth. He shall ascertain from each person residing in his district.
city, or town all money belonging to him on deposit to the credit of
such person with any bank or other corporation or firm or person.

Ninth. He shall ascertain from each person, firm, or corporation re-
siding in his district, city, or town all shares of stock of incorporated
companies other than stocks exempted under sub-section third of this
act owned by him, and the value thereof.

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