The Natchitoches enterprise., 1912-10-31

laws of this State" and the WORDS:
Against the proposed amendment TO tne
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 ne votes for or
against the proposed amendment
THOMAS c. BARRETT.
Lieutenant Governor and President
u ZIG & L. e. THOMAS.
Speaker Of the House of Represen-
Approved: August oath. 1912.
L. f. HALL
Governor of the State of Louisiana.
ALVIN e. HEBERT.
Secretary of State
ACT No ~.
House Biu No. 2. By Mr.. Roberts
Joint resolution submitting to the peo-
nile of Louisiana an amendment 10 the
Constitution recognizing and remodel1ng
| the States system of assessment and tax
alton.
eraI Assembly of the State of Louisa ma,
| two thirds of all the members elected
| to each House concurring, That the foi-
| lowing amendment to the Constitution OF
| the State of Louisiana be and the same
is hereby submitted to the quallhed cleo
tors of the State at the Congressional
election to be held on the first Tuesday
after the first Monday in the month OF
| November in the year 1912, to-wit:
| Article I.
| I. The taxing power shall be exer-
cised by the State ard by its subdfTfs-
| ions for public purposes only:
| q The taxing power snail never De
surrendered, suspended, given. cemmu-
ted or contracted away; but where par
ishes or municipal corporations shall
| grant exemptions from parish or NUM-
cipal taxes fer period not to exceed ten
years from date of completion to en-
courage the establishment OF lndu US iT.a
| migrants Of the value added by them to
vacant property owned and occupied as a
| homestead, such exemptions shall not pe
| withdrawn either as to enterprises es-
| tablished or substantially begun in COED
| faith, or to immigrants who have actu-
ally acquired and improved or In good
faith begun to improve their homestea Sls
| since the granting of the exemption. The
General Assembly on behalf Of the state,
and the governing authorities OF all SUD-
1 divisions of the state on behalf of such
subdivision, may defer ior nor more .li Ia
i caAties subjected to overnoW or oIhei
The General Assembly shall have
power to classify all property for taxa.
ton. and to adopt different rules ane
and rates shall be equal and uniform or
ali subjects of the same class Throughout
the territorial limits of the authority
levying the tax All suGn elasslfa.s0T n
the property itself or it's use, and never
on persons or ownership
Except in case Of foreign fnvasier
or domestic revolution, the General AS
senbly shall not have power to lew
any ad valorem property tax In excess O
four per cent; but the General Assembly
shall not exceed the rate of two ana one
l Ixya
thirds of all the members elected to eaci
house thereof
The sources of State and local rev
enne shall be segregated and, except a.
hereinafter specified, or as may be here
after permitted by vote OF two-third
| of all the members elected to each Hous
of the General Assembly, each taxini
authority shall be restricted in taxation
tie its own sources Of revenue as hereil
assigned.
Of two-thirds of all the members electe'
to each House Of the General Assembly
the following shall be the sources
State revenue:
end. All corporations, private person
and unincorporated associations that op
: crate any railroad falling under the turis
T louisiana; street railroad; combine
street railroad and electric light an
} pewer business; heating or refrigeratio
! plant mot inclusive OF cold storag
whether wireless or otherwise: expires
: lire, dining car, sleeping car, OIL car, re
! frustrating car, or cars for any other pur
: pose operating upon railroads in thi
state. steamboat, motor boat, steamship
ferry barge, and tug, or other waite
craft, where operated for hire canal fo
characterization or irrigation, and pipe I'm
4 for oil or gas. When the electric ligf
: and power business conducted In con
1 function with any street railroad can 2
a practically severed from the street rail
road business for purposes OF assessInehL
J then such severance shall be made
) the Tax Commission and such electri
! light and power business shall not be
. | source of State revenue.
: 9rd All banks, State and Kationa
: including savings banks, trust banks an
trust companies, and all private banker
I whether individuals or partnerships. say
4 that the real estate Of all banks an
' bankers shall be locally assessed an
: taxed. The assessments of the REL
estate of banks and bankers shall {
: eaualiZed annually by the Tax Commls
: sion to the basis established and In vegt
8 in each locality where such real esta'
: 4th. All insurance companies inclut
4 ing bonding and surety companies, FOL
4 eign or domestic, and all persons an
: Partnerships engaged in insulting person
. or property, save that all the real estat
\ and corporal property of such companle
| persons or partnerships snail De lcca1
n assessed and taxed. -
r sth. All sugar refineries, rice mill
q cotton seed oil mills. cotton seed oil n
: fneries and refineries of petroleum ar
\ its products. sugar refinery Is heret
: defined to be a concern that buys and n
: fines raw sugar exclusively. or concel
a that buys and refines more raw sugi
: than the aggregate of the sugar produce
! by 1t from cane grown and purchased |
n it.
: 6th. All mines of sulphur, salt or 9th
: minerals, all oil or gas wells. all stoII
: quarries, sand, gravel and shell pits.
r 3. Only the operative property OF sta
I, sources of revenue shall be segregated
: the State. The General Assembly she
!. define, in manner not inconsistent wit
. any provisions of this amendment, VIII
the operative property of each SUE
!. source is Real estate and the improv,
I. ments thereon forming part of any raj
;, road terminal, depot or yard or war
= house or shop, acquired after July
: 1912, even though It may form pert
= the operative property OF any railroa
q shall not be considered source of Sta
]; nert unless such property had bee
= prior to said date, part of railroad te
9 Ynfnal. depot yard warehouse or shop.
g a All other property subject to tax
le tion except as herein specified, or exec
a AZ NAV hereafter be directed by a vo
le | ~ two-thirds of all the members elect
Is to each house OF the General Assenbl
= shall be sources Of local taxation.
y Article III.
-. The General Assembly shall have pow
l. to levy for State purposes the followil
Z special taxess