CHAP. 139.—An ACT in relation to the assessment for local taxation of
the rolling stock of railroad corporations.

Approved March 12, 1912.

1. Be it enacted by the general assembly of Virginia, That
such of the rolling stock of the various railroads corporations
doing business in Virginia, except electric railways, as is tax-
able in this State, shall not be assessed for the purpose of local
taxation, by the counties, cities, towns and school districts at
the principal offices of the respective corporations, but for the
purpose of deriving taxes from such rolling stock for the various
counties, cities, towns and school districts in this State, in and
through which said railroad companies, except electric railways,
as is taxable in this State, (whether such railroads be operated
by steam or other motive power), as ascertained and assessed
for the purpose of state taxation, a tax based on the rate of
taxation imposed on the property of natural persons for local
purposes by the county, city or town in which the principal
office of any such railroad corporation is located in this State,
which taxes so levied shall be distributed among the various
counties, cities, towns and school districts in this State, in and
through which such railroad companies respectively operate and
pass, in the following manner and proportion:

“To the counties, cities or towns in which the principal offices
of such companies are respectively located, twenty-five per
centum of the gross amount of taxes so levied on the rolling
stock of such companies respectively, and the remaining seventy-
five per centum of such taxes shall be divided and distributed
among all the several counties, cities, towns and school districts
in this State in or through which such railroads, or any part
thereof, are located or pass, including the counties, cities and
towns in which said principal offices are located in the ratio
and proportion that the total assessed value of the right of way,
road bed and track, and all other property of such railroad
companies respectively (except rolling stock) located in any
such county, city or town or schoo! district, ascertained and
assessed for the purpose of State taxation bears to the aggregate
value of all of such property of such companies respectively
(except rolling stock) in this State, as ascertained and assessed,
as aforesaid, for the purpose of State taxation;

“Provided, That foreign railroad corporations doing business
in this State shall be assessed and taxed on the average amount
of rolling stock habitually used by them in this State; and the
said corporation commission shall annually make an apportion-
ment of the aggregate of such taxes so assessed on such rolling
stock, for local purposes, among the various counties, cities,
towns and school districts in and through which such companies
respectively operate and pass, in the ratio and proportion here-
inbefore provided for, which apportionment, when made, shall
be certified by the State corporation commission to the various
railroad companies, and to the boards of supervisors of the
respective counties, and to the councils of the respective cities
and towns, entitled to participate in such taxes as hereinbefore
provided; and the several railroad companies, shall pay over
to the treasurers of the respective counties, and to the collectors
of the respective cities and towns, the proportionate parts of
such taxes to which they shall be respectively entitled under
such apportionment, as certified to them by the State corpor-
ation Commission, at the same time and in the same manner as
taxes levied on the other properties of such companies, for local
purposes, are required to be paid;

‘“‘Provided, further, that electric railway companies shall be
assessed and taxed for local purposes in the manner now pro-
vided by law, except that in cases where an electric railway
company owns and operates, in whole or in part, the street rail-
way system of some city or town other than the city or town in
which its principal office is located, the State corporation com-
mission shall assess, and assign to such city or town other than
that in which such principal office is located, for purposes of
local taxation by such other city or town, that portion of the
rolling stock of any such street railway company which is habitu-
ally used and located in said city or town other than that in
which the principal office is located.

“As used in this act the term electric railway shall be con-
strued to mean a railroad, the greater part of the mileage of
which is operated by electricity.

“This act shall be in force from and after the twenty-fourth
day of January, nineteen hundred and thirteen.”