Chap. 88.—An ACT to fix the situs for taxation of the rolling stock of
electric railway corporations, and provide for the assessment thereof.
(H. B. 113)

Approved March 15, 1915.

Be it enacted by the general assembly of Virginia, That the rolling
stock of the various electric railway corporations doing business in Vir-
ginia shall not be assessed for taxation at the principal office of said
corporation, but the value of said rolling stock shall be ascertained and
assessed by the State corporation commission for the purpose of State
taxation, and for local taxation shall be divided, apportioned and dis-
tributed among the several counties, cities, towns and school districts in
this State in and through which any part of any such electric railway
is located, in the ratio and proportion that the total assessed value of the
right of way, road bed, track and all other property (except rolling
stock) of such electric railway corporations, respectively, located in any
such county, city, town or school district, bears to the assessed value
of all such property (except rolling stock) of said electric railway cor-
poration, respectively.

The State corporation commission shall annually, on or before the
fifteenth day of October in each year, divide, apportion and distribute,
according to the ratio and proportion aforesaid, the assessed value of
rolling stock of said electric railway corporations, respectively, among
the several counties, cities, towns and school districts in and through
which the line, or roadway of any such electric railway corporation is
located, and certify to the board of supervisors of said counties, and to
the councils, or any other governing board, of said cities and towns,
respectively, the proportion 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
commission to the respective boards of supervisors of the counties, and
the councils or any other governing board, of the cities and towns, as
hereinbefore provided. .

The said valuation of said rolling stock, when so ascertained and cer-
tified 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 pro-
vided by law; and said apportionment shall be treated in all respects,
for the purpose of local taxation, as if said rolling stock was actually
situated in said cities, towns, counties or districts, and the situs, or place
of taxation of such rolling stock, to the extent of said valuation and
apportionment, shall be in the said cities, towns, counties and districts
aforesaid and not elsewhere.

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