Chap. 487.—An ACT to amend and re-enact section 13 of the tax bill as here-
tofore amended, and to repeal all acts and parts of acts in conflict herewith
with certain exceptions. [S B 277]

Approved March 25, 1926.

1. Beit enacted by the general assembly of Virginia, That section
thirteen of the tax bill as heretofore amended, be amended and re-
enacted so as to read as follows:

Section 13. On every deed, except a deed exempt from taxation
by law, which is admitted to record, the tax shall be ten cents on every
hundred dollars or fraction thereof of such consideration of actual
value; on deeds of trust or mortgages the tax shall be upon the amount
of bonds or other obligations secured thereby. On deeds of trust or
mortgage upon the works and property of a railroad or other internal
improvement company, lying partly in this State and partly in another
State, the tax shall be upon such proportion of the amount of bonds,
or other obligations secured thereby as the number of miles of the line
of such company in this State bears to the whole number of miles of
the line of such company conveyed by such deed; provided, however,
that upon deeds conveying property lying partly within this State and
partly without this State the tax herein imposed shall apply only to
the value of so much of the property conveyed in the State as is sit-
uated within the State of Virginia, and upon deeds of trust or mort-
gages conveying property lying partly within this State and partly
without this State the tax herein imposed shall be only upon such
proportion of the debt secured as the value of the property located
within this State, or which may be brought into this State, bears to
the entire amount of property conveyed by such deed of trust or mort-
gage; the tax on a deed of release shall be fifty cents; the tax on any
deed of partition among joint tenants, tenants in common or co-
partners, shall be fifty cents. The tax on every deed, contract or
agreement shall be determined and be collected by the clerk in whose
office 1t is first offered for recordation and may thereafter be recorded
in the office of any other clerk without the payment of any tax.

Qn every contract relating to real or personal property, except as
hereinafter provided, which is admitted to record, the tax shall be ten
cents on everv hundred dollars or fraction thereof of such considera-
tion or value contracted for. provided. however, that the tax for
recording a deed of lease for a term of years shall be taxed according
to the provisions of this section, except where the annual rental, mul-
tiplied by the term for which the lease runs, equals or exceeds the
actual value of the property leased, then the tax for recording the deed
of lease shall be based upon the actual value of the property at the date
of lease.

On every contract or agreement relating to the sale of rolling stock
or equipment (whether the title is reserved in the vendor or not), with
a railroad corporation or other corporation or with a person, firm or
company, admitted to record, the tax shall be ten cents on every
hundred dollars or fraction thereof, of the amount contracted for in
such contract or agreement, except in the case of a railroad corporation
lying partly in this State and partly in another State, in which case
the tax shall be upon such proportion of the amount contracted for as
the number of miles of the line of such railroad corporation in this
State bears to the whole number of miles of line of such railroad cor-
poration.

This act is not to be construed as requiring the payment of any tax
for the admitting to record of any deed of trust, mortgage, contract,
agreement, or other writing supplemental to any deed of trust, mort-
gage, contract, agreement, or other writing theretofore admitted to
record, and, upon which the tax herein imposed has been paid, here-
inafter called the original instrument, where the sole purpose and
effect of the said supplemental deed of trust, mortgage, contract,
agreement, or other writing is to convey, set over, or pledge property,
real or personal, in addition to the property conveyed, set over, or
pledged in the original instrument, to secure or to better secure the
payment of the amount contracted for in the original instrument; but
in such case there shall be no tax for the admitting to record of said
supplemental deed of trust, mortgage, contract, agreement, or other
writing.

Any deed, contract, or will may be recorded in the same clerk’s
othce when the record containing such deed, contract or will, has been
destroyed by fire or otherwise, free of tax.

Section 2. On deeds of trust or mortgages, which provide for an
initial issue of bonds, and thereafter additional bonds, unlimited in
amount, if such deed of trust or mortgage shall provide that as and
when such additional bonds are issued a supplemental indenture shall
be recorded in the office in which the original deed of trust or mortgage
is first recorded, which supplement shall contain a statement as to the
amount of the additional bonds to be issued, then the tax shall be paid
upon the initial amount of bonds when the original deed of trust is
recorded and on each additional amount of bonds when the supple-
mental indenture, relating to such additional bonds, shall be recorded.