CHAP. 408.—An ACT to amend and re-enact section 1507 of the Code of
Virginia, as heretofore amended, in relation to the approximate ap-
portionment and disbursement of State school funds. (H. B. 204.)

Approved March 21, 1916.

1. Be it enacted by the general assembly of Virginia, That
section fifteen hundred and seven of the Code of Virginia as
heretofore amended be amended and re-enacted so as to read as

ollows:

Sec. 1507. Approximate apportionment and disbursement
of State school funds.—The auditor of public accounts, on or
before the first day of November of each year, shall make a cal-
culation of the gross amount of all funds applicable to public
free school purposes for the ensuing year, which calculation
shall be based upon the State taxes assessed for school purposes
upon persons, real estate, and tangible personal property and
the property of public service corporations other than the roll-
ing stock of corporations operating railroads by steam; and the
auditor of public accounts shall include in said calculation ten
cents on every one hundred dollars of the assessed value of the
rolling stock of corporations operating railroads by steam and
a like amount on every one hundred dollars of the assessed value
ot the intangible personal property, and so far as said calcula-
tion shall be based upon the land and property books of the sev-
eral commissioners of the revenue for said year, he shall base
his calculations upon the commissioners’ books of the next pre-
ceding year when said books have not been received in time.
From the aggregate thus ascertained the auditor shall deduct
as an allowance for delinquents ten per centum of the State
tax for public free school purposes upon persons and real estate
and upon tangible and intangible personal property: provided,
however, that no deduction shall be made for delinquents upon
the property of public service corporations, including the roll-
ing stock of corporations operating railroads by steam, or upon
shares of bank stock, and shall report to tne superintendent of
public instruction not later than the first day in November of
each year the net amount of all funds found to be applicable to
public free school purposes for the current year after making
the deductions herein provided for as an approximate basis for
distribution; whereupon, under the direction of the superinten-
dent of public instruction, there shall be furnished to the auditor
a distributive statement of the amounts due the several counties
and cities in the State upon this approximate basis.

Upon receipt of such statement the auditor shall issue his
warrant upon the treasurer of the State for one-half of the
amount each city or county is entitled to receive, payable to the
treasurer of such city or county; and on the first day of Feb-
ruary following, the auditor shall issue his warrant upon the
treasurer of the State for the other half of the amount each city
or county is entitled to receive, payable to the treasurer of such
city or county. |