Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-16
AMENDMENT NUMBER ONE.

SECTION /. Al property in the State except
railroads, not exempt under the laws OF the
United states, shall be taxed in proportion TO It's
value, to be ascertaiued as provided 10y law.
The word property. as used in this article and
section, is hereby declared to include moneys,
credits, bonds, stocks, dues, franchises and'ell
other matters and things, real, personal ard
mixed, capable of private ownership; pro7dcd,
that growing crops, properly used exclusively
for public schools, and such as may belong TO
the United States this State, Or any county or
municipal corporation within this state. snail
be exempt from taxation. Growing vines ana
fruit trees shall be deemed to be and shall be
assessed and taxed as part OF the realty; and,
pTOrided further, that railroads shall be taxed as
provided in Section Ten OF this article; and,
pr0rided further, that the Legislature may pro
vide for the exemption from taxation OF ships
and vessels owned and registered Or enrolled IN
this state, or may tax such ships ana vessels on
their gross or net earnings IN lieu of an ad val
orem tax. The Legislature may also provide,
except in case of credits secured by mortgage
or trust decd for deduction from credits of
debts due to bona hde residents # this state.
Double taxation in any form is prohibited.
SEC. s. The Legislature shall, by law, require
each taxpayer in this State to make and denver
to the County Assessor, annually, a statement
under OATH setting forth specifically all prop
erty real and personal, except railroad property
as defined in Section Ten of this article, owned
by such taxpayer, or in his possession or under
his control, at twelve o clock meridian, on the
first Monday in March,
SEC. 10. All property, except railroad prop,
erty as hereinafter provided, shall be assessed
in the county, city, city and county town, town-
ship or district in which 1t is situated, in the
manner provided by law. Every corporation
and person owning or operating railroad. or
any portion thereof, in this State shall, on or
before the first day of July OF each year, pay 70
| the State Treasurer an annual tax of two and
half per cent upon the gross earnings, earned
within this State, of such railroad, for the year
ending upon the thirty. first day OF December
next preceding, which tax shall be In lieu oil
all other State and county taxes upon the iran
| ehise business, right of way, roadway, roadoed,
rails rolling stock, fences, stations ana their
appurtenances, and upon ie[ry9oaes wn r , up,
shares of the capital stock, and upon the mort
cages deeds of trust, contracts or other oollga-
\ ton by which q debt is secured upon such prop
| erty. All other property belonging to such cor
| poration or person shall be assessed and taxed
/ as other property Is assessed and taxed The
1 gross annual earnings earned during the year
ending on the thirty first day OF december last
| preceding. OF all railroads, shall be, annually.
before the first day of May thereafter ascertalned
and declaredb the State Board OF Equalization,
under such rules and regulations as may De pre-.
scribed by said Board; pr0fidtd. however, lnaI
\ the LEGISLATURE may at any time pass laws pre-
scribine said rules and regulations. In all cases
| where railroads are situated partly WITHIN TINS
state and partly without this state, the gross an
| nilsl earnings thereof shall be ascertained and
determined by taxing:
| First The gross earnings which, during the
| year last preceding, have been earned wholly
| within this State.
Second-The gross earnings which, during the
] same year have been earned partly Within thu:
state and partly without this state, which shall
| be aseertained by apportioning such earnings
between this State and other ste.es or Ierriio
ries, in the proportion which the number o.
miles of such railroad situated In this state, and
used in making such earnings, bears to nc
| which such earnings have been made. The pro
portion Of interstate earnings thus ascertained