Chap. 135.—An ACT to amend and re-enact an act entitled an act in rela-
tion to the assessment, for local taxation, of the rolling stock of railroad
corporations, approved March 12, 1912. (H. B. 88.)

Bezume a law without the governor’s approval March 18, 1914.

1. Be it enacted by the general assembly of Virginia, That
an act entitled an act in relation to the assessment, for local taxa-
tion, of the rolling stock of railroad corporations, approved March
twelfth, nineteen hundred and twelve, be amended and re-enacted so
as to read as follows:

The rolling stock of the various steam, electric and street rail-
road corporations doing business in Virginia (whether operated by
steam or other motive power), so far as the same is taxable in this
State, shall not be assessed for local taxation at the principal office
of said corporation, but the value of said rolling stock, as ascer-
tnined and assessed by the State corporation commission for the
purpose of State taxation, shall be divided, apportioned and dis-
tributed (for the purpose of local taxation) among the several coun-
ties, cities, towns and school districts in this State, in and through
which any part of any such railroad is located, in the ratio and pro-
portion that the total assessed value of the right of way, road bed,
track and all other property (except rolling stock) of such railroad
corporations, respectively, located in any such county, city, town or
school district, bears to the assessed value of all such property (ex-
cept rolling stock) of said railroad corporations, respectively ; pro-
vided, that foreign railroad corporations doing business in this State
shall be assessed for taxation on the average amount of rolling stock
habitually used by them in this State.

The State corporation commission shall annually, on or before
the fifteenth day of October in each year, divide, apportion and dis-
tribute, according to the ratio and proportion aforesaid, the assessed
value of rolling stock of said railroad corporations, respectively,
among the several counties, cities, towns and school districts in and
through which the line, or roadway of any such railroad corporation
is located, and certify to the board of supervisors of said counties.
and to the councils of said cities and towns, respectively, the propor-
tion of the assessed value of said rolling stock for local taxation by
said counties, cities, towns and school districts, respectively ; and the
proportion of the assessed value of said rolling stock which shall be
subject to taxation for local purposes by the counties, cities, towns
and school districts, as aforesaid, shall be that part of said assessed
value of said rolling stock certified by the State corporation com-
mission to the respective boards of supervisors of the counties, and
the councils of the cities and towns, as hereinbefore provided.

The said valuation of said rolling stock, when so ascertained and
certified and apportioned, as aforesaid, shall be held to be situated
for the purpose of local taxation in said cities, towns, counties and
districts and taxable therein in the same way and manner as the
physical properties of said railroad is taxed for the purpose of
local taxation, as now provided by law; and said apportionment
shall be treated in all respects, for the purpose of local taxa-
tion, as if said rolling stock was actually situated in said
cities, towns, counties or districts, and the situs, or place of taxa-
tion of such rolling stock, to the extent of said valuation and ap-
portionment, shall be in the said cities, towns, counties and districts
aforesaid and not elsewhere; and shall be taxed in all respects as
other property is taxed for local purposes in such cities, towns, coun-
ties and districts through which said railroad passes, in whole or in
part, and the councils of such cities and towns and the boards of
supervisors of the several counties in the State in which the said
railroads are situated as aforesaid, shall be, and they are, hereby
authorized to levy upon the value of said rolling stock, so ascer-
tained and certified as aforesaid to said cities, towns, counties and
districts by the State corporation commission aforesaid, the same
rate of local levies and taxation as is put and placed on the physical
properties of such railroads situated in said cities, towns, counties
and districts for local purposes.

And the several railroad corporations shall pay over to the
treasurers of the respective counties, and to the treasurers of the
respective cities and towns, the taxes to which they shall be respec-
tively entitled under such assessment, at the same time and in the
same manner as taxes levied on the other properties of such cor-
porations for local purposes, are required to be paid.

All acts and parts of acts in conflict herewith are hereby re-

ealed.
r This act shall be in force from and after the twenty-fifth day
of June, nineteen hundred and fourteen.