The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1901-01-31
Mr.. Bostirk'S Taxation Bill.

Below We publish in full the bill in
trodurcd in the legislature by Hon. 4.
Mclvcr BoStick, relating to the return
and assessment of property for taxation.
The bill does not change the law only in
matter of detail, and is simply an
effort to reach property already required
to he returned, but which is not returned
in many instances:
\ bill to amend Article " of Chapter
XIV of Title III of the Revised Statutes
of 1893. relating to the return and assess
mcnt of property for taxation. by adding
Il section thereto. to be known as section
22S ta).'
Be it enacted by the General Assembly
of the State of South Carolina
| Section |. That Article ~ of Chapter
XIV Of Title II of the Revised Statutes
of 1893, relating to the return and assess
mcnt of property for taxation be. and
hereby is, amended by adding new sec
ton at the end of said article. to be
known as section 22S (aDas follows:
They shall also make out and attach
to said return, rs a part thereof, & COM
plete schedule of all written evidences OF
credit, giving names of parties, descrip.
ton of the instrument, dates and face
value less payments, the assessed value
to be fixed as in case of other property
as provided 10y law.
i That, in any action upon any evidence
of credit, not listed as herein provided
and this fact appearing by certificate OF
the County Auditor, the person bringing
such action shall be nOnsuited, and said
action shall not at any time be renewed
Provided, such defaultcr shall be allowed
to list the same upon payment to the pro
per officer of double the tax on the face
value of the instrument not previously
listed. for the full time that the same
has been omitted from said return as re
quircd by law, and ne shall thereupon bt
rcinstatcd in all his rights in regart
thereto. That during each year the
Clerks of Court and Registers of Mesnt
Conveyance in the various counties O
the State shall make out and furnisl
from their books Of record to the reSpec
tive County Auditors list of all liquida
ted contents of record in their respective
offices not satisfied of record, giving
names of parties, description of tht
instrument, dates, face value, &C, an(
any evidence of credit omitted from tht
returns for taxation shall be entered on
the additional by the County Auditor
and dauble taS collected as provided by
law upon the full face value thereof
provided nevetherless that the person
charged with such tax shall have tht
right to show to the County Auditor
I that said contract has been paid or dis
charged, or that he is not the owner
thereof.
That said list shall further contain 8
statement, as exact as may be, Of the
precise amount of moneys on hand
or deposits or otherwise under the con
troll of the taxpayer and equivalents tC
cash, to be assessed as provided by law
upon fair basis of valuation with re
gard to the proportionate assessed value
of other classes of property; provided
however that the taxpayer shall have
the right to enter upon said statement
the total amount of any "bona tide" in
debtcdness on his part, which shall bt
deducted from total face value of al
credits, and the balance, if any, used as
basis of assessment.
That this amendment shall not apply
to incorporated banks and other corpora
tions returning their capital stock fol
taxation.