Chap. 183.—An ACT to amend the Tax Code of Virginia by adding a new section
thereto, to be designated as section 97-b, to provide that any incorporated
town in which, on January 1, 1934, was located a branch bank whose parent

bank was at that time located in the county in which such town is located,
but not in an incorporated town therein, to impose a tax upon the shares of
stock in said bank, and to limit the rate of levy of such tax. [H B 177]

Approved March 27, 1934

I. Be it enacted by the General Assembly of Virginia, That the
Tax Code of Virginia be, and the same is hereby, amended by adding
a new section thereto, to be designated as section ninety-seven-a, which
new section shall read as follows:

Section 97-a. Any incorporated town in this State in which, on
January first, nineteen hundred and thirty-four, was located a branch
bank whose parent bank was at that time located in a county, but not
in an incorporated town may, by ordinance, require the parent bank
to deliver to the assessing officer of such town, a copy of the report
which such parent bank is required by this chapter to furnish to the
commissioner of the revenue of such county, and such town may, so
long as such condition shall exist, impose a tax not to exceed eighty per
centum of the State rate of taxation on each one hundred dollars of the
taxable value of the shares of stock in such bank; and it shall be the
duty of such assessing officer to extend the said tax against the stock-
holders at the rate levied by the council or other governing body of such
town.