CHAPTER 637

An Act to amend and reenact §§ 58-578, 58-581, 58-582, 58-588, 58-590,
58-598, 58-594, 58-602, 58-607, 58- -608, 58- 609, 58-610 and 58-612, as
severally amended, of the Code of Virginia, relating to the taxation
of intangible personal property and money of certain public service
corporations.

[S 281]

Approved April 4, 1968

Be it enacted by the General Assembly of Virginia:

1. That §§ 58-578, 58-581, 58-582, 58-588, 58-590, 58-593, 58-594, 58-602,
58-607, 58-608, 58-609, 58-610 and 58-612, as "severally amended,
amended and reenacted as follows:

§ 58-578. The State license tax hereinafter provided for shall be in
leu of a State tax on the intangible personal property * owned by
every incorporated telegraph or telephone company owning or operating
telegraph or telephone lines in this State *.

The State license tax hereinafter provided for shall be in leu of a
State tax on the money of every incorporated telegraph and telephone
company owning or operating telegraph or telephone lines in this State*.

There shall be no local levies assessed on such intangible personal
property or money”™.

On the real estate and tangible personal property of every incorporated
telegraph and telephone company owning or operating telegraph or tele-
phone lines in this State, there shall be local levies at the same rate or rates
as are assessed upon other real estate and tangible personal property
located i in such localities, the proceeds of which local levies shall be applied
as is provided by law.

§ 58-581. Each incorporated telegraph and telephone company doing
business in this State, owning and operating a telegraph or telephone
line in this State, shall report annually, on the fifteenth day of April, to the
Commission all real and personal property of every description (other
than intangible personal property and money) in this State, owned, oper-
ated or used by it as of the beginning of the first day of January preceding,
showing particularly, as to property owned by it, in what corporation,
county and school district such property is located. Such corporation shall
classify in its report all property under the following heads:

(1) Number of miles of pole line or conduits, including number of
miles of other property used in lieu of pole lines or conduits such as buried
cable, submarine cable or buried wire, owned by it within this State on
the first day of January preceding, in ‘each county, city, town and school
district;

(2) Number of miles of pole lines or conduits, including number of
miles of other property used in lieu of pole lines or conduits such as buried
cable, submarine cable or buried wire, operated or used but not owned
by it within this State on the first day of January preceding;
dist 3) Number of miles of wire in each city, county, town and school

istrict;

(4) Real and personal property, including the value of the telephone
instruments, switchboards, etc., and the value of telegraph instruments,
apparatus, etc., in each city, county, town or school district;
(5) The gross earnings and receipts in this State for the twelve
months ending December thirty-first next preceding.

The report herein required shall be certified by the oath of the presi-
dent or other proper officer of the company making the same.

§ 58-582. The Commission shall, after thirty days’ notice previously
given by it to the president or other proper officer of each of such com-
panies incorporated under the laws of this or any other state, assess the
value of the property of each such company, other than intangible personal
property and money, and assess upon such property the State taxes imposed
by law and shall assess the State license tax imposed by law upon every
such company. Should any such incorporated company fail to make such
report at the time herein prescribed, the Commission shall, at such
time as it may elect, upon the best and most reliable information that can
be procured, assess the value of the property of the company, other than
antangible personal property and money, and assess upon * such prop-
erty the taxes imposed by law, and shall also assess the license tax imposed
by law upon every such company. In the execution of such duty the Com-
mission may send for persons and papers.

§ 58-588. Every corporation having the power of eminent domain
in this State and authorized by its certificate of incorporation to transmit
natural gas or crude petroleum and the products or by-products thereof
in the public service by means of a pipeline or pipelines in this State,
which pays no State franchise tax on its gross receipts on account of
the transmission of such natural gas or crude petroleum and the products
or by-products thereof shall report annually on or before the fifteenth day
of April to the State Corporation Commission all of its real and personal
property of every description other than intangible personal property and
money, * as of the beginning of the first day of January preceding, show-
ing particularly in what city, town or county and school district therein
the property is located. This report shall be itemized as provided for
herein. Each such corporation shall also report the total miles of mains
located in this State

The report herein required shall be verified by the oath of the presi-
dent or other proper officer or person making the same.

This section as amended shall apply to the tax year beginning on
January first, nineteen hundred sixty- * eight and to each tax year
thereafter.

§ 58-590. The State Corporation Commission shall, after thirty
days’ notice previously given the president or other proper person, assess
the value of the property of each such corporation, other than intangible
personal property and money, and shall assess the franchise tax hereinafter
provided for.

Should any such corporation fail to make the reports required by this
article on or before the fifteenth day of April of each year, the State
Corporation Commission shall, at such time as it may elect, upon the best
and most reliable information that can be procured, assess the value of
the property of such corporation, other than intangible personal property
and money, and may, in the execution of such duty, send for persons and
papers.

The State Corporation Commission shall assess upon such property the
State taxes, if any, imposed thereon by law.

A certified copy of the assessment of State taxes when made shall
be immediately forwarded by the clerk of the State Corporation Commis-
sion to the Comptroller and to the president or other proper officer of each
such corporation.

§ 58-593. The State income tax imposed by Chapter 4, Title 58 shall
be in lieu of the State tax on the intangible personal property * owned by
every corporation falling under the provisions of this article*.
§ 58-594. The State income tax imposed by Chapter 4, Title 58 shall
be in lieu of the State tax on the money of every corporation coming under
the provisions of this article*. ;

§ 58-602. The State franchise tax hereinafter provided for shall be
tn teu of a State tax on the intangible personal property * owned by
every corporation doing in this State the business of furnishing water or
heat, light and power, whether by means of electricity or gas*.

The State franchise tax hereinafter provided for shall be in lieu of a
State tax on the money of every corporation doing in this State the business
of furnishing water or heat, light and power, whether by means of elec-
tricity or gas*.

There shall be no local levies assessed on such intangible personal
property or money. ;

On the real estate and tangible personal property of every corporation
doing in this State the business of furnishing water or heat, light and
power, whether by means of electricity or gas, there shall be local levies
at the same rate or rates as are assessed upon other real estate and
tangible personal property located in such localities and the proceeds of
such local levies shall be applied as provided by law.

§ 58-607. Any corporation doing in this State the business of fur-
nishing water or heat, light and power, whether by means of electricity
or gas, shall, on or before the fifteenth day of April of each year, report
to the Commission all of its real and personal property of every description
(other than intangible personal property and money) in this State belong-
ing to it as of the first day of January preceding, showing particularly
in what city, town or county and school district therein the property is
located. This report shall include all water power rights and privileges,
dams, flumes and canals and shall be itemized as provided in §§ 58-608
and 58-609. Each such corporation shall also report its gross receipts from
all business done in this State for the year ending December thirty-first
preceding. The gross receipts to be reported and subject to taxation shall
include those received from incidental operations as well as those derived
from the sale of water or heat, light and power. The reports herein re-
quired shall be made on forms in the manner prescribed by the Commission
and shall be certified by the oath of the president or other proper person
making the same.

§ 58-608. All electric light and power companies shall, to the extent
that the property hereinafter particularly set forth is situated in this
State, report to the Commission the following property, which shall be
particularly set forth in the report: (a) Land and improvements, (b)
generating and substation equipment, (c) transmission and distribution
lines, (d) underground conduits, conductors and devices, (e) line trans-
formers, (f) services, (g) meters, (h) street lighting and signal systems,
(i) general equipment, (j) materials and supplies, (k) merchants’
capital, and (1) all other property (other than intangible personal prop-
arty and money) not enumerated in any of the foregoing heads and
whether used in public service operations or otherwise.

§ 58-609. All corporations manufacturing and furnishing gas and
ull corporations furnishing and selling water shall, to the extent that the
sroperty hereinafter particularly set forth is situated in this State, report
© the Commission the following property, which shall be particularly set
‘orth in the report: (a) Land and improvements, (b) production equip-
nent, (c) general equipment, (d) mains, (e) services, (f) meters, (g)
naterials and supplies, (h) merchants’ capital and (i) all other property
‘other than intangible personal property and money) not enumerated in
ny of the foregoing heads and whether used in public service operations
r otherwise.

§ 58-610. The Commission shall, after thirty days’ notice previously
given to the president of the corporation or other proper person, assess
the value of the property of each such corporation, other than intangible
personal property and money, and shall assess the franchise tax herein
provided for.

Should any such corporation fail to make the reports required by this
article on or before the fifteenth day of April of each year, the Commission
shall at such time as it may elect, upon the best and most reliable infor-
mation that can be procured, assess the value of the property of such
corporation, other than intangible personal property and money. In the
execution of such duty it may send for persons and papers and administer
an oath to witnesses and examine the same. The Commission shall, after
thirty days’ notice previously given by it to the president, treasurer or
other proper officer of such corporation, proceed to ascertain the value of the
property, other than intangible personal property and money, and gross
receipts so reported upon the best and most reliable information that can
be procured and to this end may send for persons and papers. The Com-
mission shall assess upon the property and gross receipts the taxes imposed
thereon by law.

§ 58-612. The Clerk of the Commission shall furnish to the council
of every city and town and to the board of supervisors or other governing
body of every county wherein any property belonging to such corporation
is situated a certified copy of the assessment made by the Commission of
such company’s property, other than intangible personal property and
money. The assessment shall definitely show the character of the property
and its value and location for the purpose of taxation, in each city, town
or county and the school district therein, so that city, town, county and
district levies may be imposed upon the same.