New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-26
FULL TEXT OF THE BILL.
THE NEW FRANCHISE TAX ACT, AS PASSED
BY THE LEGISLATURE AND NOW IN
THE GOVERNORS HANDS.

Albany. May 25-The following is the full text
OF the new Franchise Tax act passed By the Legis-
lature to-day and now ready for the Governors
signature: --s-e3
Section l. Subdivision of section Of the tax
a ! The terms land. real estate" and real
property" used in this chapter INCLUDE me iand ana
itself above and under water all buildings ana
other articles and structures. substructures, ana
superstructures, erected upon under or above OF
Guiding the value OF the right to collect wharfage
cranage or dockage thereon an bridges, a 'ei a
supports and Enclosures for electrical conductors
ground; all surface underground elevated rail-
roads. including the value OF al franchises rgnts,
or permission 10 construct, maintain, or operate
the same In. under, above on, ar through streets
highways. or public places: all railroad structures
the iron thereon, branches sWltches' anq QUIT QUIZ
fixtures permitted or authorized to be made lald.
placed on. upon above, or under any public or
private road, street, or grounds all mains, pipes.
and tanks laid placed in upon. above. or under
steam heat water oil Electricity or any property
substance product capable Of transportation or
Dedne the va OF ali anhse fights g
thority. or PERMISSION to construct, maintain. or
streets, highways. or public places any mains,
pipes, tanks conduits. or wires. with their APP
purtensnces. for conducting water steam, heat.
light. power. gas oil or other substance. cleo
triciiy for ieesraPhe telephone h or other puE-
and all mines, minerals. quarres. and fossils in
the STATE a franchise, risht. auf6oritv' or Der ~
mission specified in this subdivision shall for the
purpose Of taxation be known as a special fran
ohise" special franchise shall be deemed to in
clude the value OF the tangible property of Per
son. copartnership, association or corporation
situated in. upon, under. or above any street
highway. public place. or public waters in CON
nection with the special franchise The tangible
property SO included shall be taxed as part Of
No property OF a municipal corporation shall be
subject to special franchise tax.
Sec; Article Of the Tax law Is hereby amended
by adding at the end thereof Sections a. 49, A. Is
46 and a. TO read as follows:
ASSESSMENT OF SPECIAL FRANCHISES.
Sec. r. The State Board Of Tax Commission
ers shall annually fix and determine the valuation
of each special franchise subject to assessment in
each city. town. village district. Such Board
shall, not less than ten more than thirty days
next preceding the date when an annual assess
ment is required by law. TO be completed in any
such city town or village. file with the clerk OF
the valuation Of each special franchise in sun5 city
town. village or tax district as determined by such
sessed valuation on which all taxes based on such
special franchise In SUCH city town or village for
he levied during the ensuing year The assessors
or other taxing officers other local officer in any
Ger, shall on demand furnish TO the State Board
Of Tax Commissioners any Information required by
such Beard for the purPose q determinng the
village clerk shall. within FIVE days after the re-
eelpi by him OF s,atement Of assessment Of a
missoners. deliver copy OF such statement certi-
fed by him TO the assessors or other officers
charged WIN the duty OF making local assess
ments. in each tax district in such city town or
village. The valuation OF special franchise AS
fixed by the state Board OF Tax Commission
ers shall be entered by the assessors or other on
GERS In the proper column of the assessment-roll.
REPORT TO THE STATE BOARD OF TAN
COMMISSIONERS.
Sec 4S Every person. copartnership. association
or corpora ton subject 70 taxation on a specia
franchise shall. within thirty days after this sec
ton takes effect. within thirty days after suci
special franchise is acquired. make a written re
port 20 the State Board Of Tax Commissioner
Containing full description OF every special fran
chise possessed enjoyed by such person. co
partnership. association corporation; a copy o
the special law. grant. ordinance or contract un
der which the same is held or II possessed o
enjoyed under a general law reference TO sucl
law a statement OF any condition. obligation o.
burden imposed upon such special franchise un
der which the same is enjoyed together with an!
other information relating to the value OF sucl
special franchises required by the State Board
The State Board OF Tax Commissioners may from
time to time require further or supplemental re
port from any such person. copartnership, associe
lion corporation containing Information an,
data upon such matters as It may specify. Ever
report required by this section shall have annexed
thereto the affidavit OF the president. vice-presi