The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-05

lively debate. The hin seeks 10 amend
section SOS OF the laws as follows:
Omitted Taxes. Ieyfcs, ctcs--How AS
seseed.
II the commissioner OF the revenue.
examiner Of records. or other assess
ing officer, commission or board, des-
ignated by law assess persona. prop
erty freai, personal and nfxed). taxes,
levies. etc. ascertain that any. person.
or any real or personal property, or
income, or salary, or license tax has
not been assessed for taxation for any
year by the State, county, district.
city or town, or that the same has
been assessed at less than the law re-
auired for any year. or that the taxes,
ievies, etc, thereon. for any cause,
have not been realized, 1t shall be
the duty of the commissioner of the
revenue. examiner of records. or 9TH
err assessing officer, commission or
board, designated by law to assess
taxes, ievies, to list the same and
assess persons, property (real. per-
sonal and mixed), and levies at the
rate prescribed for that year, adding
thereto interest at the rate of six per
centum per annum.
Provided, however
l. That all assessments of intangi-
BILE personal property, money and in
comes for State taxes prior to the
year 1903 shall be conclusively pre-
stunned to be full. true and correct.
2. No municipal. county or district
tax shall be levied or collected on any
assessment of intangible personal
property, money or incomes for taxes
alleged to have been omitted from the
assessments for the years prior to
1919.
3. When omitted Intangible per-
sonal property. money and incomes
are voluntarily reported on oath to
the examiner of records. on or before
August J., 1919. on forms presented by
the Auditor of Public Accounts, and
such reports are found correct. and
the tax thereon paid before Novem-
Der !, 1915, or where said omitted
property, money or incomes have al
ready been, assessed and shall have
taxes paid on such property, money or
incomes shall not be subject to inter
est or penalty.
4. Within the periods prescribed In
this I oviso the examiner of records,
the local boards Of review and the
county and city treasurers are hereby
unless the assessments on
Intangible personal property. money
and income for omitted taxes have
OH chuy Dcuu HtauSt W uSS inc salflo
methods OF ascertaining and reporting
property for assessment and for the
assessment and collection of all omit
ted taxes on intangibles personal
property. money and income as are
authorised to be used for the assess
ment and collection OF current taxes.
and shall receive the same compensa-
ton as may be authorized for the as
sessmert and collection OF current
taxes. Where the return Is voluntarily
reported on oath to the examiner OF
records. On forms presented by the
Auditor of Public Accounts, the ex-
aminer OF records shall receive one
half Of paid compensation.
S. In assessing under this act omit
ted capital of manufacturers, capital
shall be defined to be not capital, to-
wit: gross assets less liabilities.
No tax shall be levied or collected
on any subsequent assessment for any
year prior to nineteen hundred and
twelve. whether heretofore or hereaf-
ter made. when such assessment is
revenue upon the report OF any ex-
aminer of records or made by direc-
ton OF any local board OF review
Provided, further. that any person
who makes voluntary and full re-
turn to the commissioner of the reve-
nue. for the year nineteen hundred and
twelve, and the years subsequent
thereto OF omitted taxable property
up to the time this act goes into eff
feet. shall not be charged with any
interest or penalty for such omitted
taxes and no interest or penalties shall
be charged In any case where the
omission was not due to the fault of
the person charged with the taxes or
levfes.
Senator STROBE opposed the bill,
saying that such a measure was, In
his opinion, in direct conflict with
section ia OF the Constitution. He
the measure with a speech
OF some length.
Senator Trinkie arose TO make a
speech In support of the bill. but at