The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-01-14
PUBLIC UTILITIES
TAX RATE RAISED
DELEGATE sTEARNEs HAS PLAN
OF COMPLETE sEGRE-
CATION.
OFF E r Ell IN HOUSE
LEyIEs EXCISE TAN or ONE AND
O>E-TENTH PER CENT.
DOES AWAY WITH
DEFlCIT.

Delegate Stearnes yesterday intro
duced in the House a bill providing
practically for complete segregation.
1t levies an excise tax upon the public
utility corporations of the State, seq
regates and makes them liable to
taxation by the State alone and re-
peals all State taxes upon real estate
and tangible and intangible personal
property
Under the terms of the bill. the
total rate of such segregated tax is one
and one-tenth per cent upon the value
OF the stock and the funded and float
ing Indebtedness of each public utili-
~ corporation of the State, as ascer-
tanned by the State corporation com =
mission in the manner provided for in
the bill.
The tax is to he divided as follows
How Divided.
Three eievenths among the sever
al cities and counties of the State
through which the public utility or
any part thereof may run, to be APP
portioned on the basis of the milage
and value of the property in each
county and city.
Five elevenths to the support of the
State government in lieu of the twenty
cents on the hundred dollars now
levied for that purpose.
Two elevenths for the support of
the public schools in lieu OF the ten
cent State school tax.
one ELEVENTH to the payment of pen
sions in lieu of the present state
tax of five cents.
The thirty-five cent State tax levied
for tn support of the State govern
ment, for the schools and for PEN
sions, is repealed
The bill requires each public utili-
ty corporation, as defined in the act,
to make annual statement to the
State Corporation Commission. of Its
condition and affairs as they ENLISTED
on June 80 proceeding and goes into
elaborate detail as to what such state
ment shall contain, how formulated,
and how checked by the corporation
commission. which is given power OF
Inspection OF books and the making
/ of other inspections and investiga-
/ tons.
Sets Forth Views.
4 In q pamphlet setting forth his
views on tax. segregation and tax re-
form. Delegate Stearnes explains his
bill, giving figures showing it's effect
i on State and local revenues. Mr.,
Stearnes does not believe the publ
utilities OF Interstate are taxed in pro-
! portion to the tax on he property of
smaller concerns and individuals, They
are not taxed. he says, according To
their ability to pay taxes
| The figures submitted by Mr.,
Stearnes show that the States income
under the operation of his segregation
bill and four supplemental bills to be
offered will be 81 ,0s0,0o0 and that the
estimated annual expenditure on the
basis of last years appropriation will
be $6,S33,6 $685..
These receipts will come from var
ious sources segregated to the State.
to the amount of So, 210, 900; from the
excise tax of one and one tenth per
cent on public utilities, to the amount
/ of S3,240, 900; and from proposed tax
es on bank stock, stock OF other in-
| corporated concerns, on mortgages
and on incomes, TO the amount OF
100000.
Liquor Tax Replaced.
According to Mr.. Stearnes' estimate
the loss of the revenue from the liquor
tax will be taken care of,
Many features of the tax commits
sions report follow the lines of my
! BILL" said Mr. Stearnes last night.
The governors message recommends
nearly everything contained in my
! bill. The pubic utilities are not pay
! ing their share of the taxes and the
people are not going to stand for
being taxed at the rate of $l.T5 while
the railroads are taxed at the rate
OF fifty-seven and half cents Con-
necticut taxes her railroads much as
I would have Virginia tax them; the
Norfolk and Western pays more to
Ohio per mile than it pays Virginia
My bill will do Justice, solve the roll
ing stock embroglio and give us com.
plete segregation without deficit to
be made up by levies on the counties.