Chap. 63.—An ACT to segregate, for the purposes of taxation, pursuant t
section 169 of the Constitution of Virginia, the several kinds and classe
of property so as to specify and determine upon what subjects Stat
taxes, and upon what subjects local taxes may be levied, and to provid
for the continuance for the year 1915, of the present State school tax 0
ten cents on every one hundred dollars of the assessed value of rea
estate and tangible personal property. (H. B. 8

Approved February 16, 1915.

Whereas, in the judgment of this general assembly the interests o
the Commonwealth will be promoted by putting into operation at the ear
liest date practicable a plan of complete segregation of the subjects 0
taxation so as to specify and determine upon what subjects State taxe
and upon what subjects local taxes may be levied, and

Whereas, it is now impossible, in view of the re-assessment of rea
estate to be made this year in pursuance of constitutional provision, t
make an accurate estimate of the probable revenues hereafter to be de
rived by the cities and counties from real estate, and it is likewise im
possible at this time to make an accurate estimate of the amount to be de-
rived by the State from taxable intangible personal property under th«
plan of complete segregation contemplated as an ultimate result of this
act, and

Whereas, the next general assembly, under the temporary plan of par.
tial segregation herein provided for, and after the reassessment of real
estate to be made this year under the provisions of the Constitution, will
be able to determine with accuracy how complete segregation may be
accojupiished without embarrassment incident to uncertainty of State
and iocal revenues, and

Whereas, in the opinion of this general assembly it is expedient to
continue until the next session of the general assembly the present levy
ot State taxes for school purposes, in order to provide against any tem-
porary loss in the States revenue incident to the readjustment of its
tax system,

Now, Therefore,

1. Be it enacted by the general assembly of Virginia, That pursuant
to the provisions of section one hundred and sixty-nine of the Consti-
tution of Virginia, all taxable real estate and all taxable tangible per-
sonal property as enumerated in section six in schedule “B” of an act
entitled an act to raise revenue for the support of the government, and
public free schools, to pay the interest on the public debt and to provide
a special tax for pensions, as authorized by section one hundred and
eighty-nine of the Constitution, approved April sixteenth, nineteen hun-
dred and three, also the tangible personal property of public service cor-
porations (except rolling stock of corporations operating railroads by
steam) be, and the same are hereby, segregated and made subject to local
taxation only; provided, however, there shall be continued for the year
nineteen hundred and fifteen and until otherwise changed by law, the
present State school tax of ten cents on every one hundred dollars of the
assessed value of said real estate and tangible personal property, which
tax shall be applied to the support of the public free schools for the
equal benefit of all of the people of the State and to be apportioned on
a basis of school population; and pursuant to the said provisions of the
Constitution all insurance taxes and licenses on insurance companies and
all taxable intangible personal property, rolling stock of all corporations
operating railroads by steam, and all other classes of property not herein-
before specifically enumerated in this act, be and the same are hereby
segregated and made subject to State taxation only; “provided that noth-
ing herein contained shall prevent any city from levying a tax upon said
segregated intangible personal property assessed to the residents therein
at a rate not to exceed thirty cents upon the one hundred dollars of as-
sessed valuation thereof; nor to prevent the boards of supervisors of
any county from levying a district road tax on all said segregated
intangible personal property assessed to the residents in the magisterial
district proposed to be taxed for district purposes to be used exclusively
for the construction and repair of roads located within the magisterial
district in which said levy is laid at a rate not to exceed thirty cents on
the one hundred dollars of assessed valuation thereof (but this clause
shall not be construed to authorize the board of supervisors of any county
to levy such tax against the residents of an incorporated town which
maintains its own roads, which town is located within such magisterial
district), nor to prevent any incorporated town in this State which is
exempt by statute or by the express provisions of its charter from the
payment of district road taxes, or which maintains its own roads free of
expense to the magisterial district in which it is located from levying and
collecting a tax on all said segregated intangible personal property as-
sessed to residents therein at a rate not to exceed thirty cents on the
hundred dollars of assessed valuation thereof ;” except that the capital
of merchants shall not be subject to State taxation, but may be taxed
locally as prescribed by law; and the shares of stock of banks, banking
associations, and other institutions enumerated in section seventeen in
schedule “D” of the act aforesaid, which shares of stock shall be taxed
as provided by law.

2. The value of all of the real and personal properties mentioned
in this act shall be ascertained and determined, and the taxes, local and
state, shall be extended on the values thereof in the manner prescribed

y law.

2-a. On the real estate and personal property or other taxes as-
sessed or extended for local purposes, and heretofore assessed for State
purposes, the commissioners of the revenue shall be paid by the cities,
counties or towns not less than the commissioners now allowed by law for
the assessment of State taxes.

2-b. On the real estate, personal property, public service corpora-
tions or other taxes heretofore received by the State but hereafter to be
collected for local purposes, the treasurers of cities, counties and towns
shall be paid by the cities, counties and towns the same commissions
as now allowed by law for the collection of State revenue.
3. All acts and parts of acts in conflict with this act are hereby
repealed.