CHAP. 333.—An ACT to amend section 7 of an act to require all water
companies, heat, light and power companies and gas companies to pay
a franchise tax, a property tax, and to furnish certain reports to the
State corporation commission, approved February 26, 1910.

Approved March 14, 1912.

1. Be it enacted by the general assembly of Virginia, That
section seven of an act to require all water companies, heat, light
and power companies and gas companies to pay a franchise tax,
a property tax and to furnish certain reports to the State corpo-
ration commission, approved February twenty-sixth, nineteen
hundred and ten, be amended and re-ordained to read as follows:

$7. Every corporation coming within the provisions of this
act shall pay to the State an annual State franchise tax equal to
one-half of one per centum of its gross receipts, for the privilege
of exercising its franchise in this State, which, with the taxes
hereinbefore provided for, shall be in lieu of all State taxes or
license charges whatsoever upon the franchises of such corpora-
tion, and the shares of stock issued by it, and upon all its property
as hereinbefore provided; provided, that nothing herein con-
tained shall exempt such corporation from the annual fee re-
quired by section one hundred and fifty-seven of the constitution,
or from assessments for street and other local improvements,
which shall be authorized by law, or from the county, city, town,
district or road levies; provided, that any city or town may im-
pose a license tax upon such corporation for the privilege of do-
ing business therein which shall not exceed one-half of one per
centum of the gross receipts of such business accruing to such
corporation from said business in such city or town; and pro-
vided, further, that from the amount of any such license tax
there shall be deducted any sum or sums paid by such corpora-
tions to such city or town as a merchant’s license tax and license
taxes; and provided, further, that nothing herein contained shall
annul or interfere with or prevent any contract or agreement by
ordinance between such corporations and municipalities as to
compensation for the use of the streets or alleys of such muni-
cipalities by such corporations.

The real and personal property of such corporation, other
than its franchise, shall be assessed on the valuation fixed by the
State corporation commission with county, city, town, district
and road levies, at the same rate as real and personal property
of natural persons are assessed with such levies.

No State tax, county, city, town, district or road levy shall be
laid on the net income of any such corporation, nor shall any
county, city, town, district or road levy be laid on the gross re-
ceipts of any such company.
All taxes and levies shall, until paid, be a lien upon the prop-
erty within this State of the corporation owning the same, and
take precedence of all other liens or encumbrances.

Any such corporation, or the State or any county or city,
at the instance of the attorney general of the State, or of the com-
monwealth’s attorney for any county or city, aggrieved by the
assessment and ascertainment of such taxes, may, within thirty
days after receiving a certified copy.thereof, apply for relief to
the circuit court of the city of Richmond. Notice of the applica-
tion setting forth the grounds of complaint, verified by affidavit
if the appeal be taken by any such corporation, shall be served
on the State corporation commission , and on the attorney general,
whose duty it shall be to represent the commonwealth, or if the
appeal be taken by the State or any county or city, notice of the
application, setting forth the grounds of complaint, shall be served
on such corporation. If the court be of the opinion that the assess-
ment or tax is excessive, it shall reduce the same, but if of the
opinion that it is insufficient it shall increase the same. Unless the
applicant pay the taxes under protest when due, the court, if the
decision is adverse to the applicant, shall, in disallowing the appli-
cation, give judgment against it for the taxes assessed by the
State corporation commission, and for a sum, by way of damages,
equal to interest at the rate of one per centum per month upon
the amount of the taxes from the time same were payable. If
the decision is in favor of such corporation, in whole or in part,
appropriate relief shall be granted, including the right to recover
any excess of taxes that may have been paid with legal interest
thereon, and the legally taxable cost of said application from the
State or local authorities, or both, as the case may be, the judg-
ment to be enforceable by mandamus or other proper process
issuing from the court finally adjudicating the application. If
the decision be in favor of the State or any county or city, appro-
priate relief shall be granted, and the court shall enforce its judg-
ment by mandamus or other proper process.

The supreme court of appeals may, subject to the provisions
of article six of the constitution, allow a writ of error to either
party.