citizens of the State of North Dakota which is so invested or used as to come into competition with money invested in bank stock of banks doing business in this state. This act shall not be construed so as to exempt the income from any class of money or credits from the operation of the existing or any future income tax law, nor to exempt any class of money or credits from the existing or any future law imposing a tax upon transfers of property, by will, gift or intestate law.

Sec. 2. EMERGENCY.) Whereas an emergency exists in that bank stock was inadvertently exempted from taxation by the section above amended and there is now no adequate method provided by law for the taxation of bank stock, therefore, this act is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval.

Approved March 6th, 1923.

CHAPTER 308.

(S. B. No. 146-Ettestad.)

TAX EXEMPTIONS.

An Act to Amend and Re-enact Section 2078, Compiled Laws of North Dakota for the year 1913 as Amended by Chapter 223, Session Laws of 1919, and Chapter 122, Session Laws of 1921, Relating to the Exemption of Certain Property from Taxation.

Be It Enacted by the Legislative Assembly of the State of North Dakota:

Sec. 1. AMENDMENT.) That Section 2078, Compiled Laws of North Dakota for the year 1913, as amended by Chapter 223, Session Laws of 1919 and Chapter 122, Session Laws of 1921 is hereby amended and re-enacted to read as follows:

Sec. 2078. All property described in this section to the extent herein limited shall be exempt from taxation, that is to say: 1. All property whether real or personal owned exclusively by the United States.

2. All property whether real or personal owned by the state, but no lands contracted to be sold by the state shall be exempt.

3. All property whether real or personal belonging to any county, town, township, school district or to any municipal corporation, excepting land purchased by counties at tax sales which shall be taxed as provided in Section 2191, Compiled Laws of 1913.

4. Property of Indians who are not citizens except lands held by them by purchase, not held in trust.

5. All lands used exclusively for burying grounds or cemeteries.

6. All school houses, academies, colleges, institutions of learning, with the books and furniture therein, and the grants attached to such buildings necessary for their proper occupancy, use, and enjoyment and not otherwise used with a view to profit; also all dormitories and boarding halls including the land upon which they are situated, owned and managed by any religious corporation for educational or charitable purposes for use of students in attendance upon any of the educational institutions; provided that such dormitories and boarding halls shall not be managed or used for the purpose of making a profit over and above the cost of maintenance and operation.

7. All houses used exclusively for public worship, and lots or parts of lots upon which such houses are erected; also dwellings belonging to religious organizations intended and ordinarily used for the residence of the bishop, priest or rector, or other minister in charge of the services of the church, together with the lots upon which the same are situated.

8. All buildings and contents thereof belonging to institutions of public charity, including public hospitals under the control of religious or charitable institutions, used wholly or in part for public charity, together with the land actually occupied by such institution not leased or otherwise used with a view to profit; and all money and credits appropriated solely to sustaining and belonging exclusively to such institutions.

9. Real and personal property of any agricultural fair association duly incorporated for the exclusive purpose of holding agricultural fairs and not conducted for the profit of any of its members or stockholders.

10. Real and personal property owned by lodges, chapters, commanderies, consistories, farmers' clubs, commercial clubs, and like organizations and associations, grand or subordinate, not organized for profit and used by them for places of meeting and for conducting their business and ceremonies; and all personal and real property owned by any fraternity, sorority or organization of college students; provided, however, that such property as enumerated in this subsection shall be used exclusively for such

purposes.

11-A. All personal property of insurance companies that are subject to a lieu tax upon gross premiums or gross earnings.

11-B. All personal property of National and State Banking Associations, whose capital stock is assessed and taxed to the holders thereof in lieu of a tax upon its property valued and assessed under the provisions of Section 2115 of the Compiled Laws for 1913, as amended by Chapter 61 of the Laws of 1917.

12. All land used as a public park or monument ground belonging to any military organization and not used for gain shall be exempt from taxation.

13. The armory, and land or lots upon which situated, owned by any regiment, battalion or company of the North Da

kota National Guard, and used for military purposes by such organization.

14. All structures and improvements on agricultural lands, provided that this subsection shall be construed to mean farm buildings and not industrial plants, residences or other structures located without the limits of any city, town or village, not used or intended for use as a farm residence or as a part of a farm plant.

Sec. 2. This act is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval.

Approved March 6th, 1923.

CHAPTER 309.

(S. B. No. 253-Van Camp.)

REPEAL, TAX EXEMPTIONS, LIMITATIONS.

An Act to Repeal Chapter 122 of the Session Laws of 1921.

Be It Enacted by the Legislative Assembly of the State of North Dakota:

That Chapter 122 of the Session Laws of 1921 be and the same is hereby repealed.

Approved March 5th, 1923.

CHAPTER 310.

(S. B. No. 302-Storstad.)

TAXATION FREIGHT LINE AND CAR EQUIPMENT COMPANIES.

An Act to Impose a Gross Earnings Tax on Certain Freight Line and Car Equipment Companies Owning and Operating or Leasing and Operating over Railroad Lines Within this State for the Purpose of Raising Revenue to Defray the General Expenses of State Government; Repealing Sections 2 to 11 Inclusive, of Chapter 59, Special Session Laws of 1919 and All Other Acts and Parts of Acts in Conflict Herewith.

Be It Enacted by the Legislative Assembly of the State of North Dakota:

Sec. 1. Every freight line and car equipment company, except dining, buffet, chair, parlor or sleeping car companies, owning and operating or leasing and operating cars over any railway line in this state or partly within this state shall pay an annual tax to the State upon the gross earnings from the operation of its lines or routes in this state of six (6) per cent of its total gross earnings within the state.

Sec. 2. Every such freight line and car equipment company shall on or before the fifteenth day of March of each year, file with the state tax commissioner a statement under oath of its treasurer or person performing the duties of treasurer, or of its duly authorized agent. Such statement shall contain:

(1.) The name of the company.

(2.) Whether a person, partnership, association or corpora

tion, and under the laws of what state or country organized. (3.) The location of its principal office.

(4.) The name and postoffice address of the president, secretary, auditor, treasurer and superintendent or general manager. (5.) The name and postoffice address of the chief officer and managing agent of the company in this state.

(6.) The total amount of gross earnings from the operation of its lines or routes for the preceding calendar year, or for such lesser time as such company has carried on business.

(7.) The total number of miles its cars were operated in this state and the total number of miles its cars were operated both within and without this state for such period.

(8.) Every corporation included in Section 1 of this act shall be taxed upon the amount of its gross earnings from its operation in this state which shall be determined for the purpose of assessment and taxation as follows:

(A.) In the case of a company owning and operating or leasing and operating cars wholly within the limits of this state the entire amount of gross earnings from the operation of its lines or routes.

(B.) In the case of a corporation owning and operating or leasing and operating cars both within and without the state, such share of the entire amount of the gross earnings from the operation of its lines or routes shall be apportioned to this state as the number of miles such cars were operated in this state for the year ending December 31st next preceding, bears to the total number of miles such cars were operated both within and without the state.

Sec. 3. ASSESSMENT AND COLLECTION.) The total tax due from each company shall be computed by the state tax commissioner from the annual return herein required, or from other information and shall be assessed by the state board of equalization. The tax as so determined and assessed shall be certified by the state tax commissioner to the state treasurer for collection on or before the first day of May in each year. The tax shall be payable on the first day of June next, and if not paid shall become delinquent on the first day of July, and thereupon a penalty of five (5) per cent shall attach and be charged. Interest at the rate of one per cent per month shall be computed upon all delinquent taxes paid after August 1st. Unpaid taxes shall be collected by the procedure outlined in Chapter 58 of the Special Session Laws of 1919 for the collection of delinquent taxes.

Sec. 4. EXEMPTION FROM OTHER TAXATION.) The tax imposed by this act upon the property of freight line and car equipment companies shall be in lieu of all other taxes upon property used exclusively in the operation of the business of such companies in this state.

Sec. 5. PENALTIES.) If the return required to be made by Section 1 of this act is not made within twenty (20) days after the time therein fixed, the person or company or officer neglecting or refusing to make the same shall be liable to a penalty of not exceeding five hundred dollars ($500) for each ten days thereafter during which such report shall be delayed, said penalty to be assessed by the state board of equalization and certified and collected in the manner herein provided for the assessment and collection of a tax. The tax commissioner may, in his discretion, grant extension of time within which such returns shall be filed.

Sec. 6. For the purpose of this act and the taxes herein imposed, all cars owned and operated or leased and operated by any freight line or car equipment company over railroad lines or routes within the state or partly within and partly without the state are hereby declared to have a situs in the state. All administrative special and general provisions of law, including the general tax laws of the state and not inconsistent with the provisions of this act are hereby extended and made applicable to all of the provisions of this act and to the tax herein imposed.

Sec. 7. All moneys collected under the provisions of this act shall be paid into the state treasury to be used in paying the general expenses of state government.

Sec. 8. REPEAL.) Sections 2 to 11 inclusive, Chapter 59, Special Session Laws of 1919 and all other acts and parts of acts in so far as inconsistent with the provisions of this act are hereby repealed.

Sec. 9. Whereas, an emergency exists because the present gross earnings tax law on freight line and car equipment companies is legally defective, this act shall take effect and be in force from and after its passage and approval by the Governor.

Approved March 7th, 1923.