Mount Vernon signal. (Mt. Vernon, Ky.) 18??-current, 1917-03-30
APPROVE TAX ON
BANK DEPOSITS
BANKERS ASSOCIATION BANK
TAX MEASURE FINDS PASSAGE
IN KENTUCKY HOUSE.
MUST FILE REPORT YEARLY
TO Show the Amount on Hand-Road
Funds Are Squandered Without Re-
suits, Pickett Says, Speaking on
Bailey's Amendment.


Frankfort.-The State Bankers AS
sociation bank deposit tax bill, offered
by Representative Minor as a substi-
tute to the Pickett bank bill, drawn
by the State Tax Commission, passed
the house of representatives by the
vote of IS to "a
The Representatives voting for the
bill are: Bays, Brashear, Frank ].
Brown, Hiram Brown, Bullock, Cannon,
Coleman, Chopper, Cruise, Cummins,
Dobbs, Dorman, Dover, Bowling, VIII
liam Duffy, Duncan, Durham, Elliston,
Gardner, Gearhart, Gooch, Hobbs, Hol-
land, Howell, Hunter, Hutchcraft, Jack
son, Johnson, Kaufman, Kuh, Lasley,
Lee, Lilly, Mathers, Metzger, Minor,
Moores, McAtee, McMurray, Nichols,
O'Brien. Oliver, Perry, Pickett, Price,
Humphrey, Richardson, Ryans, Schnei-
der, E. D. Smith, Claude B. Smith, John
Snider, SPAIN, Spurrier, Stone, Tabor,
Trivette, Tyra, Wall, John s. Webb, w.
NJ. Webb, White, Yewell, Young. To-
tai, IS.
the bill are: Bratcher, w. H. Brown,
Cooper, Embrey, Greene, Grimes, Hall.
Hamilton, Harvey, Howard, w. H.
Jones, Lyon, Montgomery, Murphy,
Pieratt, Purnell, Radcliffe, Roach, Meri-
wether, Smith, Tartar, Vance, Wills,
Wilson, Wood. Total, "a.
The State Bankers Association bill
provides tax of 10 cents on each 500
of deposits in a state or national bank
or trust company, to be used for state
purposes. 1t provides further that all
state and national banks and trust
file with the State Tax Commission by
September 81 of each year a report,
showing the total amounts of deposits
as of September 1.
The amendment of Representative
Price makes it obligatory on the banks
to deduct the amount of tax paid for
each depositor within six months.
Speaker Duffy and Representative
Myers, of Covington, the administra-
ton floor leader in the house, with the
aid of One-half the house members, sue
ceeded in putting to sleep the amend
ment of Representative Bailey. This
amendment provided that the tax de-
rived from bank depesitors be distrib-
uted in the same manner as other rev.
enues. A tie vote resulted on the
amendment. Speaker Duffy broke the
tie and defeated the amendment
~ fa
tax of 10 cents a gallon on distilled
spirits, is the next measure to come
before the house 1t is estimated that
$2,000,000 will be raised annually from
this source. In the senate, the Oliver
bill and Frost substitute, creating a
State Tax Commission, had their Sec
ond reading and were placed in the or
ders Of the day.
The committee on revenue and taxa
ton reported four bills without an ex-
preston of opinion. They had their
first reading and were placed on the
calendar The bills reported follow:
House Bill No. IS, by William Duffy
TO repeal and re-enact the statutes
relating to assessments in frst-class
cities.
House Bill No. sc, by Perry-To re-
peal and re-enact the statutes relating
to assessment in first-class cities.
House Bill No. 81, by Perry-To re-
peal and re-enact the statutes relating
to assessment of franchises in first
class cities.
House Bill No. Al, by Brashear-To
amend the statutes providing that
where a person holding land by ad-
verse possession, pays taxes thereon
for five years, if the other claimant
fails, the land shall be vested in the
adverse holder.