Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-08-09
AMENDMENT NUMBER one.

SECTION l. All property in the State except
railroads. not exempt under the laws OF the
United States, shall be taxed in proportion TO its
value to be ascertained as provided by law:
The word property, as used in this article ana
section, is hereby declared to include moneys
credits, bonds stocks, dues, franchises ana al
other matters and things, real, personal and
mixed, capable of private ownership; prorided
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, shall
be exempt from taxation. Growing vines and
fruit trees shall be deemed to be and shall be
assessed ard taxed as part OF the really; ana,
prOUided further, that railroads shall be taxed as
provided in Section Ten OF this article; and.
provided further, thai 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 deed, for deduction from credits OF
debts due to bona fde residents II 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, statement
under OATH setting forth specifically all prop
erty. real and personal, except railroad properly,
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 q rallIoaui or
any portion thereof, in this State, SHALL on or
before the first day of July of each year, pay to
the State Treasurer an annual tax OF two and
q 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 OF
all other State and county taxes upon the iran-
chise business right of way, roadway, rOadbed,
rails rolling stock, fences, stations and their
appurtenances and upon ferryboats, when OPP
Grated as part of such railroad, ana upon the
shares OF the capital stock, and upon the mort
Cages, deeds of trust contracts or other obliga-
ton by which debt is secured upon such prop
erty All other property belonging TO such cor
poration or person shall be assessed ana taxed
as other property is assessed ana taxed Inc
cross 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 aseertsined
and declared by the State Board OF Equalization,
under such rules and regulations as may be pre-
seribed by said Board; provided. however that
the Legislature may at any time pass laws pre-
scribing said rules and regulations. In al cases
where railroads are situated partly within this
State and partly without this state the gross an
nuaI earnings thereof shall be aseertained and
determined by taking:
F1rt-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 this
State and partly without this State, which shall
be ascertained by apportioning such earnings
between this State and other states or 1eIIlto-
RES in the proportion which the number OF
miles of such railroad situated in this State, and
used in making such earnings, bears 10 ne
whole number. of miles thereof by the use OF
which such earnings have been made. The pro-
portion OF interstate earnings thus ascertained