The herald., 1912-10-03

no license shall be less than $500, mol
shall the licenses provided for in this
| section be levied unless the genera
property tax of each taxing locality
| when exercised TO sixty per cent of its
limit. shall not be sufficient 10 pay the
expenses of its government When
ever Il municipal license equals the IL
cense levied by the parish, only the
municipal license shall be due and col
lectible.
Article V.
l. All assessments of property for
State purposes shall be made by a
State Tax Commission, composed OF
! three members to be elected, not later
than July LIST. 1913, by a Board COM
| posed of the Governor, the state Au-
| dltor and the State Treasurer from
among the qualified electors of the re-
| Spectlve Railroad Commission Dis
| tricts. as constituted at this date, and
! they shall not be subject to removal
/ except for the causes and in the man
ner provided for the removal of dis
| trict judges.
| >. The terms of the first commits
| sioners shall be for two, four and six
| years. The period each is to serve
| shall be determined by lot. At the eN-
| plration of such terms, election shall
be for the period of six years; and
| commissioners shall be elected and va
| cancies filled for any uneXpired term
| by the qualified electors of the respec-
| tive railroad Commission Districts at
|
| in this State the first Tuesday after
| the first Monday in November every
| two years; and at the said congression-
al election held just prior TO the eX-
piratlOn of their respective terms.
3. The Commission shall maintain
an Office and have its domicile at Ba-
ton Rouge, and the members shall re-
side in Baton Rouge and devote their
| time exclusively to the discharge OF
their duties.
4. They shall each receive a salary
of Five Thousand Dollars per annum
beginning January /, 1914, and their
travelling expenses, not exceeding a
maximum amount to be fixed from time
to time by the General Assembly, an
itemized account of which shall be
rendered in an annual report.
3. The chairman of the first Com
mission shall be named by the APP
pointing Board and serve until the eN-
piration of his term of office, and there
after the Commission shall select Its
own chairman.
6. The Commission and the individ
ual members thereof shall perform such
duties in respect to assessment and tax
alton as are herein prescribed, and
such other and further duties as the
General Assembly may from time to
I. The General Assembly shall pro-
vide said Commission with an adequate
clerical force.
8. The Commission shall have pow
er to adopt and enforce such reason
able rules. regulations, and modes OF
procedure, not inconsistent with law,
as ii may deem proper Tor the as,
charge of its duties, and TO near anu
determine complaints that may De mace
against assessments, and other or It's
act, required or authorized by law.
g. The Commission shall have pow
er to summon and compel the attend
ance of witnesses, to swear witnesses
and to compel the production or DOCKS
and papers, to take testimony under
commission, and to punish tor con-
faV1l 10
for the district courts. The General
Assembly may provide other penalties
for violating the orders OF the COM
10. If any person, firm, association
or corporation shall be dissatisfied with
the assessment made or action taken
by the Commission, such party may
file a petition setting forth the cause
of objection to such assessment or &C
ton of the Commission or TO either OF
both in Court of competent 1urlsuic-
ton. at the domicile or the Coininis-
sion against said Commission as de-
PENDANT Either party may appeal 10
the Supreme Court of the State Win
out regard to the amount involved
such appeals to be returnable Wlthlh
ten days after the date that the decl-
sion of the lower Court becomes mai
All such cases. both in the trial anu
appellate court, shall be trle1 SUM
marily, and by preference over all otheI
cases Such cases may be tried in the
court of the first instance elther In
chambers or at term time. .
IL. No bond shall be reGui9e req % co Snp
nor shall advance costs, or security
for costs. be required of it ...
IL. 1t shall be the duty OF the Attor
ney General. and the various district
ATTORNEYS. on proper request or direc-
ton by the Commission or the Govern
or to aid the said Commission IN az
legal matters, and 10 cd pr0Sie With
such requests and directions: A lalIuIe
on the part of such law ofhcers, wneI
so requested or directed to perform the
duties here imposed upon them, Shall
constitute misfeasance in Office
Article VI.
/ After January 1st, 1914, all as
sessments for all state purposes, eA
on or before April LIST IN
each year. and the taxes shall become
due and payable on the first Monqay
in June of each year. and snail pc
come delinquent on the first Monday
in September in each year. Each par
ish and municipality shall have ihe
right to fix the date Tor the coEnpiSe
ton of it's local assessments, anu lne
payment of its local taxes ana licenses
general and special, until otherWise
prescribed by the General Assembly,.
Until otherwise provided, eNlstlns idm
on these subjects shall be operative
Leyee district taxes and forced con
tributions. exclusive of produce taxes,
shall be assessed and become delln-
ouent coincidentally with parish taxes;
2. Public service corporations snall
be assessed on their physical property
and on their franchises separately, pu'
the General Assembly shall have pow
er to direct the Tax Commission TO
assess the property OF such corpora
lions at a valuation including pom
physical property and franchises, 10 De
determined by gross receipts, or HS
dividends on stocks and interest paiu
on bonded debt, or by any other avail
able method.
3. incorporated banks shall be as
sessed by assessing the stockholders on
the book value of the stock, /. e., capt.
tai stock, surplus and undivided prof.
its less the assessed value OF real es,
tate locally assessed and taxed, and
less such further deductions OF not less
than five per cent on their loans anu
discounts to cover bad debts and I'M.
earned interest as the General AS
sembly may prescribe, which deduc-
ton shall be made only from thelr
surplus and undivided profits; all taxes
to be paid by the banks and charged
to the stockholders.
4. Individual bankers, banking firms
and unincorporated banking associa-
t;npS dopoinilad in this State shall be |