Chap. 113.—An ACT to impose an annual State license tax on certain police
pension fund associations, police benevolent associations, and firemen’s mutual
aid associations, which license tax shall be in lieu of all State taxes on the
intangible personal property of such association. [S B 88]

Approved March 5, 1936

1. Be it enacted by the General Assembly of Virginia, That every
police pension fund association, police benevolent association, and fire-
men’s mutual aid association, in which the membership therein is re-
stricted to the personnel of the police and fire departments of the
political subdivisions of this State, shall pay an annual State license tax
of twenty dollars; and the license tax prescribed by this act shall be in
lieu of all taxes for State purposes which, but for this act, would be
imposed upon the intangible personal property of such associations.

2. This act shall be effective on and after July first, nineteen hun-
dred and thirty-six, and the license tax on each such association for
the last six months of nineteen hundred and thirty-six is hereby fixed
at twenty dollars, and shall be in lieu of all State taxes for the tax year
nineteen hundred and thirty-six which but for this act would be imposed
upon the intangible personal property of each such association for the
tax year nineteen hundred and thirty-six.