CHAP. 25.—An ACT to raise revenue for the support of the government
and to appropriate money for the construction of roads and projects
comprised in the “State Highway System.” fH B 17]

Approved September 5, 1919.

1. Be it enacted by the general aexemibly of Virginia, That
the special taxes prescribed by this act be, and they are hereby,
imposed and shall be Jevied upon the property hereinafter spec-
ified, and that the funds arising from such levies be applied to
the construction or reconstruction of the roads and' projects
comprised in the State highway system, as established by an act
approved January thirty-first, nineteen hundred and eighteen,
entitled an act to establish the State highway system.

2. On all the tracts of lands and lots and improvements
thereon not exempt from taxation, including rents and rents
charge and including the real estate of public service corpora-
tions, there shall be a tax of seven cents on every hundred dol-
lars of the assessed value thereof.

3. On all tangible personal property, as described in section
six, schedule B, of an act entitled an act to raise revenue for the
support of the government and public free schools and to pay
the interest on the public debt and to provide a special tax for

ee eee

dollars of the assessed value thereof. |

4. Upon all bonds (except bonds of the United States and
of the State of Virginia), notes and other evidences _of debt,
including bonds of States other than Virginia, bonds of coun-
ties, cities and towns located outside of the State of Virginia,
bonds of railroad and canal companies and other corporations,
bonds of individuals and all demands and claims, however evi-
dences, whether secured by mortgage, deed of trust, judgment
or otherwise, or not so secured, there shall be a tax of seven
cents on every hundred dollars of the assessed value thereof ;
and upon the capital of persons, firms and corporations employed
in a trade or business not otherwise taxed, upon the value of
the principal of personal estate and credits, other than tangible
property and money, under the control of a court, receiver or
commissioner in pursuance of an order, judgment or decree of
any court or in the hands or under the control of the executor,
administrator, trustee, agent or other fiduciary, and upon the
principal or personal estate and credits, other than money, de-
posited to the credit of any suit or not in the hands of a receiver
or other fiduciary, there shall be a tax of seven cents on every
hundred dollars of the assessed value thereof, and upon the

is taxed by this State or which pay a franchise tax in this State,
there shall be a tax of seven cents. on every hundred dollars of
the assessed value thereof.

5. Upon the shares of stock of each bank, banking associa-
tion, trust or security company there shall bea tax. of seven
cents upon every hundred dollars of the actual value thereof as
determined by the provisions of section seventeen of an act en-
titled an act to raise revenue for the support of the government
and public free schools, and 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, ap-
proved April sixteenth, nineteen hundred and three, as amended.

The taxes provided for by this act shall be in addition
to any other taxes upon the property upon which these taxes
are imposed which are now or may hereafter be provided for
hy any statutes or acts of the general assembly.
7. The taxes provided for by this act shall be collected in
the same manner as other taxes upon the said property for State
purposes are collected, and shall be paid into the State treasury.
They shall compose and constitute a special fund to be known as
the State highway system construction fund, and shall be ap-
plied to the construction of the roads and projects comprising
the State highway system, as created and established by an act
of the general assembly of Virginia, approved January thirty-
first, nineteen hundred and eighteen, and to no other purpose.
Warrants for the expenditure of the State highway construc-
tion fund shall be issued by the auditor of public accounts upon
certificates of the State highway commissioner that the parties
in whose favor such warrants are proposed to be drawn are
entitled thereto and shall be paid by the State treasurer out
of the moneys constituting the said State highway system con-
struction fund.

8. The provisions of this act shall apply to the assessment
and collection of the taxes herein provided for the year nineteen
hundred and nineteen and thereafter until otherwise provided.

9. Any surplus to the credit of the fund created by this act
which may exist at the end of any fiscal year shall not lapse or
revert to the general treasury of the State, but may be used
during any subsequent year for the purpose for which said fund
was collected and appropriated.

10. An emergency existing, by reason of the necessity of
meeting Virginia’s quota of federal-aid road money now avail-
able, this act shall be in force from its passage.