The herald., 1912-10-31

L
no license shall be less than $500, mol
| shall the licenses provided for in thi.
| section be levied unless the genera
| property tax OF each taxing locality
| when exercised to sixty per cent of it,
| limit, shall not be sufficient to pay the
| expenses of its government When.
ever Il municipal license equals the Ii.
cense levied by the parish, only tht
| municipal license shall be due and col.
| lectible.
| Article V.
| l. All assessments of property fol-
State purposes shall be made by q
| State Tax Commission, composed OF
| three members TO be elected, not later
| than July LIST, 1913, by Il Board COM
posed of the Governor. the State Au-
| ditor and the State Treasurer from
among the qualified electors of the re-
spectlye Railroad Commission Dis
| trlctS. 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 he determined by lot. At the eX-
piratiOi: of such terms, election shall
be for the period of six years; and
commissioners shall be elected and va
cancies filled for any UneNpired term
by the qualified electors of the respec-
the regular congressional elections held
in this State the first Tuesday after
the first Monday in November every
two years: and at the said congress IN
al election held just prior to the eX-
piration 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.
T. 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 eX-
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
time prescribe.
I. The General Assembly shall pro-
vide said Commission with an adequate
clerical force.
s. The Commission shall have pow
able rules. regulations, and modes OF
procedure, not inconsistent with. law,
as ii may deem proper for the DIS,
charge of its duties. and TO hear ana
determine complaints that may be made
against assessments. and other or It's
act, required or authorized by law.
3. The Commission shall have pow
er to summon and compel the attend
ance of witnesses. to swear witnesses,
and to compel the production OF books
and papers, to take testimony under
commission, and to punish Tor con-
tempt, as fully as is provided by law
for the district courts. The General
Assembly may provide other penalties
for violating the orders OF the COM
mission.
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 or
both in a Court of competent Jurisdic-
ton. at the domicile of the Commis-
sion. against said Commission as ue-
PENDANT. Either party may appeal 10
the Supreme Court OF the State Win
out regard to the amount involved;
such appeals to be returnaDle Wlthln
ten days after the date that .ne S See
All such cases. both in the trial anu
appellate court, shall be tried sum
marily and by preference over ali othef
cases. SuCn cases may NC lilcu III
court of the first instance either in
chambers or at term time.
IL. No bond shall be required OF SAID
in any case In any court,
nor shall advance costs, or security
for costs. be required of II. 49,
r. 1t shall be the duty of the Attor-
ney General, and the various district
attorneys. on proper request or dlrec-
ton by the Commission or the Govern,
or. to aid the said Commission in all
legal matters, and to prosecute ana
defend all cases in accordance Win
such requests and directions; "A IaILure
on the part of such law officers, when
so requested or directed to perform the
duties here imposed upon them, snail
constitute misfeasance in offlce.
Article VI.
l. After January fst, 1914, all as
sessments for all State purposes, ex
cept as hereinafter provided, shali De
completed on or before April ISL IN
each year. and the taxes shail peGonie
in June of each year, and shau pc
come delinquent on the nrst MONDAY
in September in each year. Each par
sh and municipality shall have the
lion of it's local assessments anu the
payment of its local taxes and licenses
general and special, until otherWlse
prescribed by the General Assem- Oily.
Until otherwise provided, existing laws
On these subjects shall be operative.
L,eyee district taxes and forced con-
.ributions. exclusive OF produce laNes'
shall be assessed and become deIlh-
luent coincidentally with parish taxes
2 Public service corporations shall
be assessed on their physical property
md on their franchises separately, Dut
he General Assembly shall have pow
,r to direct the Tax Commission 10
assess the property of such corpora
ions at valuation including Doth
PHYSICAL property and franchises, 10 De
by gross receipts, or py
dividends on stocks and interest paio
IN bonded debt, or by any other aVaii-
lble method.
3. Incorporated banks shall be as
,essed by assessing the stockholders on |
he book value of the stock, 1. e., capt.
al stock, surplus and undivided prof.
is less the assessed value OF real es,
ate locally assessed and taxed, ana
han five per cent on their loans and |
discounts to cover bad debts and un-
earned interest as the General AS
iembly may prescribe, which deduc-
ion shall be maze only s,1 1ro aII ta n
o be paid by the banks and charged |
o the stockholders.
4. Individual bankers. banking firms |
md unincorporated banking aSsocia- |
ions. domiciled in this State. shall be |
assessed on the amount of capital, sur |
,lus and undivided profits actually en- |
,Ioyed in their business, less the as
essed value of real estate locally as
essed and taxed, actually and exclu- |
lively used and employed in their bust /
less. and less such further deductions |
lot less than five per cent on their |
oans and discounts to cover bad debts |
md unearned interest as the Genera. /
may prescribe, which deduc-
ion shall be made only from their sur