The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1912-09-14

years with capltal OF not less thau
five million dollars and the words
Against the amendment to the Consti-
tuition of the State of Louisiana exempt
ing from taxation for ten (10) years
from the date of completion certain
and power purposes to be completed
within five go years with a capital
of not less than five million dollars.
And each elector SHAH indicate as pro-
vided in the general election laws OF
the State whether he votes for or
against the proposed amendment
THOMAS G. BARRETT.
Lieutenant Governor and President
L. f.. THOMAS.
Speaker of the House of Represen-
Approved; Ausast sAth. , Z nA,r.
Governor of the State of Louisiana
'''e ~ ALVIN e. HEBERT.
Secretary of State.
ACT NO. IL.
Senate Bill No s. BY, Mr. voegtle.
Joint resolution pToposifig an dmend-
ment to the Constitution of the State
of Louisiana exempting from taxation
the legal reserve of life insurance COM
panies organized under the laws of this
State.
Section !. Re it resolved by the
General Assembly of the State of Lou
isiana. two-thirds of all the members
elected to each house concurring, That
the following amendment tn the Con-
stitution OF the State be submitted to
| the qualified electors of the State Tor
their adoption or rejection at the con-
gressional election T., be held on the
| first Tuesday after tn. first Monday in
the month of November. 1912, as fol-
| lows:
There shall be exempt from all tax
alton the legal reserve of life insurance
companies organized under the laws OF
Section 2. Be it further resolved
etc, That the official ballot to be used
at said election shall have printed
amendment to the Constitution of the
State of Louisiana exempting from all
| taxation the legal reserve OF life IN
surance companies organized under the
against the proposed amendment to the
Constitution of the state of Louisiana
exempting from taxation the legal re-
! serve of life insurance companies or
ganized under the laws of this State"
! And each elector shall indicate as pro-
vided by the general election laws OF
the State. whether re votes for OF
against the proposed a r as M p Ir
Lieutenant Governor and President
" '''e ~ L. C. THOMAS.
Speaker ofothe House of Represen-
Approved: August s4th. 1912;
Governor of the State OF Louisiana
- ALVIN r. HEBERT.
Secretary of State.
ACT No u.
House Bill No. 2. BY Mr. Roberts.
Joint resolution submitting to the peo-
pie Of Louisiana an amendment to the
Constitute reorganizing and remodeline
the State's-Sgstem Of assessment and tax
alton.
eral Assembly OF the State of Louisiana.
ltwo-thfrds of all the members elected
to each House concurring. That the fol-
lowing amendment to the Constitution Of
1.-THE State of Louisiana he and the same
lis hereby submitted to the qualified cleo
tors of the State at the Congressional
election to be held on the first Tuesday
after the first Monday IN the month Of
Article 7.
1. The taxing power shall be exer-
cfsed by the State and By its subdfvis-
ions for public purposes only; , - :.
surrendered. suspended, given, commu-
ted or contracted away; but where par,
fishes or municipal corporations shall
grant exemptions from parish or mum
lcipal taxes for period not to exceed ter
years from date Of completion to en-
lcourage the establishment Of industrlA
enterprises. or similar exemption to i'm
migrants of the value added by them II
vacant property owned and occupied as
homestead, such exemptions shall not b<
. withdrawn either as to enterprises es.
tablished or substantially begun in good
faith, or to immigrants who have actu.
laliy acquired and improved or in good
faith begun to improve their homesteads
since the granting Of the exemption. Tit
General Assembly on behalf of the State
land the governing authorities Of all sub
divisions of the State on behalf of such
! subdivision. may defer for not more thar
J three years the collection Of taxes in 10
caIifies subjected to overflow or othel
public calamity.
8. The General Assembly shall have
power to classify all property for taxa.
ton, and to adopt different rules ant
rates for different classes, but such rules
and rates shall be equal and uniform OF
all subjects OF the same class Throughout
THE territorial limits Of the authorit,
IIevying the tax. All such classif1 ssationl
1.-The property itself or its use. and neve
on persons or ownership.
4. Except In case of foreign invasion
Tor domestic revolution, the General As
sernbly sh1ll not have power to lew
lany ad va1orem property tax In excess o
. -four per cent: but the General Assembl,
shall not exceed the rate Of two and one
half per cent except by vote Of two
, thirds OF all the members elected 10 eaci
house thereof.
|, l. Inc sources Oh >tdLe ana local rev
, enue shall be segregated and, except a.
hereinafter specified, or as may be here
after permitted by a vote of two-third
of all the members elected to each Hous'
OF the General Assembly, each taxing
authority shall be restricted In taxation
,, to its own sources Of revenue as herein
assigned.
q Until otherwise provided by a vot,
OF twf.-thirds of all the members elected
to each House of the General Assembly
the following shall he the sources o
State revenue:
LIST. The special taxes hereinafter pro
vided Cor
End. All corporations. private persons
and unincorporated associations that op
crate any railroad falling under the juris
: diction of the Railroad Commission o
Louisiana: street railroad combine<
street railroad and electric light and
! power business; heating or refrigeration
: plant mot inclusive OF cold storag'
|plant); telephone line; telegraph line
whether wireless or otherwise. express
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