Chap. 67.—An ACT to provide for the segregation of the tax upon the rolling
stock of corporations operating railroads by steam; to make such rolling
stock liable to taxation by the State alone; to fix the rate of such
taxation; and to provide for the assessment of the said eed stock.

H. B. 94)

Approved February 16, 1915.

Be it enacted by the general assembly of Virginia,

1. That the rolling stock of all corporations operating railroads by
steam and doing business in the State of Virginia, so far as the same
is taxable in this State, be and the same is hereby segregated and made
subject to taxation by the State of Virginia only, and shall not be subject
to taxation by any of the cities, towns, counties, districts, or other local
subdivisions of this State.

2. That the value of said rolling stock shall be assessed annually by
the State corporation commission.

8. That the total rate for such segregated rolling stock shall be one
and three-fifths per cent of the assessed value thereof, to be applied to
the support of the government of this State. . .

4. That the several corporations aforesaid, operating railroads by
steam, shall pay over to the treasurer of Virginia the taxes due under
the assessment of rolling stock aforesaid, at the same time and in the same
manner as taxes levied on the other properties of such corporations for
State purposes are required to be paid.