The herald., 1912-10-10

ceipts of the licensee, provided that
no license shall be less than $500, nor
shall the licenses provided for in this
section be levied unless the general
property tax OF each taxing locality,
when exercised TO sixty per cent of its
limit, shall not be sufficient to pay the
expenses of its government When
ever a municipal license equals the Ii
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-
ditor and the State Treasurer from
among the qualified electors of the re-
spective 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-
piration of such terms. election shall
be for the period of six years; ana
commissioners shall be elected and va
cancies filled for any uneXpired term
by the qualified electors of the respec-
tive Railroad Commission Districts az
the regular congressional elections held
in this State the first Tuesday aftel
the first Monday in November every
two years; and at the said COMPRESSION
al election held just prior TO the eX-
piration of their respective terms.
g. The Commission shall maintain
an office and have its. domicile at Ba-
ton Rouge, and the members snail re-
side in Baton Rouge and devote their
time exclusively 10 the discharge OIL
their duties.
4. They shall each receive a salary
of Five Thousand Dollars per annum
beginning January l, 1914, and thelr
travelling expenses, not exceeding
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 Cam
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 It's
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, ana
such other and further duties as the
General Assembly may from time TO
time prescribe.
Z. The General Assembly shall pro-
clerical force.
er to adopt and enforce such reason
able rules. regulations, and modes Oh
procedure, not inconsistent with law,
as il may deem proper Tor the uls,
charge of its duties, and to hear ana
determine complaints that may be mace
against assessments. and other OF lts
act, required or authorized by law.
3. The Commission shall have pow
er to summon and compel the attend
and to compel the production OF books
and papers, to take testimony uhuei
Commission, and to punish for con-
tempt, as fully as is provided by law
for the district courts. The Generai
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 1urlsdic-
ton. at the domicile or the Comnis-
sion, against said Commission as oe-
PENDANT. Either party may appear 10
the Supreme Court Of the State Win
out regard to the amount lnVoiVeu,
such appeals to be returnaple Wlthih
ten days after the date that the SeoI
All such cases. both in the trial anu
appellate court, shall be tried sum
marily, and by preference over all otheI
court of the first instance either In
chambers or at term time.
ii. No bond shall be required OF SAID
Commission in any case in any cOutt,
nor shall advance costs, OF security
for costs. be required or II: ~
L. 1t shall be the duty or the Attor
ney General. and the various dlstrle'
attorneys. on proper I, req nr fbe q Govern
or. to aid the said Commission IN an
legal matters, and to prosecute any
defend all cases in accordance Mi.n
such requests and directions; A failure
on the part of such law officers, when
so requested or directed to perform tne
duties here imposed upon them, snail
constitute misfeasance In once
Article VI.
1 After January LIST, 1914, all as
sessments for all State purposes, eA
cept as hereinafter provided, shalt pe
completed on or before AprIti become
due and payable on the first MONDAY
in June of each year, and shalI pc
come delinquent on the nrst Monuay
in September in each year. Each par
ish and municipality shall have the
right to fix the date. Tor the coLnpie
tion of it's local assessments, anu Ie
payment Of it's local taxes anu ticemSie s
Prescribed by the General Assembly.
Until otherwise provided, existing laws
on these subjects shall be operative
Leyee district taxes and FORCED con-
tributions. exclusive Of produce du 6 dan9s,
ouent coincidentally with parish taxes;
3. Public service corporations shali
he assessed on their physical property
and on their franchises separately, pu'
the General Assembly shall nave pow
er to direct the Tax Commission 10
assess the property Of such corpora
lions at valuation including poth
physical property and franchises 10 pe
determined by gross recelptS, VI "
dividends on stocks and interest paio
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, l. e., capi-
tai stock, surplus and undivided prof.
its less the assessed value OF real es
tate locally assessed and taxed, anu
less such further deductions OF not less
than five per cent on their loans anu
discounts to cover bad depts ana a Az
earned interest as the General AS
sembly may prescribe, which deduc-
ton shall be made only from lheh
surplus and undivided prohts; all taxes
to be paid by the banks and charged
to the stockholders.
4. Individual bankers. banking firms
and unincorporated banking associa-
tions. domiciled in this State. shall be
assessed on the amount OF capital, sur
plus and undivided profits actually en-
nloyed in their business, less the as
sessed value of real estate locally as
sessed and taxed, actually and exclu-
sively used and employed in their busi-
ness. and less such further deductions
not less than five per cent on their
loans and discounts to cover bad debts
and unearned interest as the Genera
Assembly may prescribe, which deduc-