The Providence news. (Providence [R.I.]) 1891-1906, 1897-04-09
Hearing on Bill Prepared
by the Commission.
Radical Changes Proposed in
System of Taxation.
Important Provisions Regarding
Railway Corporations.

revenue of the state of which Senator
Freeman Is chairman gave public hear
ing at O'Clock this afternoon at the
state House on the proposed bill for AN
net relative to the taxation OF railroad
corporations.
This Is one of several measures which
the commission will recommend as a
means OF increasing the annual receipts
OF the general treasury
The text of the bill Is as follows
Section i. The lieutenant governor,
general treasurer and the state auditor
snail be the tax commissioners of the
state, and shall exercise all the powers
anu duties conferred upon them by this
act, subject To appeal as hereinafter pro-
Nlucu. SAID commissioners may employ
such clerical assistance as they may re-
qulro at an expense not TO exceed fifteen
hundred dollars In any one year
sec :. Every railroad company char
tereu Dy this state, or organized under
the general laws and every corporation,
person or association operating any rail
ROAD IN this state, under lease or other
wise shall annually between the fifteenth
day of July and the fifteenth day of
september, return To the tax commits
sioners, under the oath Of its treasurer,
or other person acting rs its financial
agent the amount of the capital
STOCK ol the corporation, its place of bus
lness, the number of its shares, the par
value and market value of its shares, and
the total valuation of its rolling stock
ana other property on the lst day of
June, the amount of it's bonds the rate
oi interest of its bonds, the rate and
amount OF Interest paid the previous year
exclusive OF interest paid on its bonds.
lts total receipts, and expenditures such
return shall also contain "a statement of
Its works, structures, machinery and real
estate subject 20 local taxation in this
state and Of the location and value
thereof, together with the amounts for
which it Is assessed in the several towns
ana cities and the amounts of tax and
tine rates of taxation in the local munich
palities; such return shall also contain n
return of the whole length of its lines.
ana the length OF its lines within and
without this State. Said returns are To
bc as OF the 30th day of June i'm each year.
sec. 8. The tax commissioners shall
ON or before the 10th day of May an
nually, forward to every corporation sub
lect To taxation under the provisions of
TINS act, blanks suitable for making the
returns required 10y the preceding section,
ana they shall make an annual report to
the general assembly including in such
report "A tabular statement of statistics
derived from such returns
Sec 4. The tax commissioners shall |
ascertain, from the said returns or other.
wise, the true market value Of the shares |
OF each corporation included in the pro- |
Visions OF Section of this act and shall |
NNtiHlhlc lHcTolFOln tflc ld1f cash value of Il
All of sald shares, constituting It's capital |
STOCK on the 3Oth day of June OF the then |
current year, which shall be taken as the
true value Of its taxable property for the
purpose OF this act. They shall also as
certain and determine the value and
amount OF all tho property and estate
owned by each corporation, and subject
10 local taxation, and of the deductions
provided In the following section; and for
thls purpose they may take the amount
Or value at which such property and estate
IL assessed at the place where the same is
located as the true amount or value: but
such local assessment shall not be con-
elusive OF the true amount or value
thereof.
sec. Every corporation included in
ono provisions OF Section shall annually
liiy TO the state tax upon its corporate
property at value equal 10 the aggregate |
ialue OF the shares of its capital stock as
determined I'm the preceding section, at |
Jhe rate OF one and one-half per cent of |
'uch valuation, first deducting upon rail. |
roads wholly within this State an amount
'quM IN value, as determined by the tax
To their property and
state subject to local taxation, wherever
ltuatod; and in case OF railroads whose | {
Ines cxtefsi beyond the state there shall
Do deducted an amount equal in value. rs {
determined by the tax commissioners, TO
helr property and estate subject TO local
''N"hANA III WIS DidAt, anu also IN uuUl- | 4
Ion TO said amount, such portion of the {
iext following. III any party fails TO pay !
ne tax, as hereinbetore required tho
General treasurer may proceed TO collect
DC same with the assistance of the attor. {
icy general, with interest at the rate of
we've per cent per annum, and the costs \
1 collection added, in an action of debt C
n the name of the State Said tax shall v
70 lien on the railroad operated and take
recedoncc of all other liens and incum-
RANGES.
Sec. g. In case tho value of the reaI
state and property of any corporation ,
Icated within the State as determined by
le comlnlssioners is less than the val ne :
: determined by the assessors of the city Z
town where such property and estate q
taxable, SAID commissioners shall notify ]
le corporation Of such determination /,
nd u such corporation does not within ten y
AVS from the date Of such notice make e
)pllcatlon 20 said assessors for AIN abate-
cht Oi salu valuation, and docs not i'm
'6e OF the refusal OF said assessors To
ANT such abatcS'ent forthwith prose- r
tic an appeal from said decision to tho 7
'ard OF appeal created by the tenth sec d
On of this act and give notice thereof To s.
10 tax commissioners. the valuation a
tabllshcd by said tax commissioners b
all DC conclusive upon said corporation W
& the purposes Of this act: Provided. a,
'wevcr that II said assessors have con. %
cir hnnl return as required by law, or II M
o tax has been placed in the hands OF
g proper officer for collection, the
peal provided by this section may be :,
sen anything In the general laws Of - -
? state or ordinances of the town or city u
tho contrary Notwithstanding +
sec; y Any corporation aggricved by CO
uccNlon or tho tax commissioners 10
sing under the provisions of this act. y,
~ appeal To tho board of appeal con. =.
tutcd under the tenth section of this VI
Tor correction Of tho same as Co law, A,
fact, or both. ~
SOC 10. The appellate division OF the 2 Y
pfomc Court sitting In banc shall con- an,
tute q board Of appeal, 90 which board ~,
party aggrievcd by any decision of ~
tax commissioners upon any matter
sing under this act may appeal within $
DAYS after notice 0f such decision rro
un such appeal said board shall as soon cou
may lc give u hearing to All porfics I'm ue
crest, and shall thcrcupSN decide the ON
tier In question and notify the tax :.