TAX ON FOREIGN FIRE INSURANCE COMPANIES.

TAX ON FOREIGN FIRE INSURANCE COMPANIES.

The following is the text of the Gale bill just signed by Governor Black amending that portion of the charter of Greater New York, which relates to the distribution of moneys collected on account of the taxation of fire insurance companies in the city of New York:

Section 810. There shall be paid to the fire commissioner until the seventeenth dayofjanuary in the year nineteen hundred and seventeen a percentage or tax upon the receipts of foreign fire insurance companies doing business in the borough ot Richmond, and said commissioner shall cause the money so paid to him to be paid out and disposed of as follows :

t. To the New York Fire Department Relief Fund, fortyfive per centum.

2. To the treasurer of the Firemen’s association of the State of New York, who shall pay over the same to the treasurer of the Volunteer Firemen’s Home association at Hudson, New York, ten per centum.

3. To the treasurers of the exempt or veteran volunteer firemen’s associations existing in the borough of Richmond at the time this act takes effect, forty five per centum. Said fortyfive per centum shall be apportioned by said fire commissioner among all such associations in proportion to the actual bona fide membership of each suck! association on the first day of January next preceding the time when such apportionment is made. In determining the membership of such associations only exempt or honorably discharged volunteer firemen shall be considered as members.

The fire commissioners shall quarterly in each year render to each of the foregoing associations a sworn statement in detail of the amounts collected and received by him as aforesaid and from whom and from what source on account of said tax during each quarter.

Sec. 2. A new section is heieby added to said act to be known as section eight h mdred and eleven, and to read as follows :

Sec. 811. There shall be paid to the fire commissioner until the seventeenth day of January, nineteen hundred and seventeen,the percentage or tax upon the receipts of foreign fire insurance companies doing business in the borough of Queens; and said commissioner shall cause the moneys so paid to him to be paid out and disposed of as follows:

1. To the New York Fire Department Relief fund, fortyfive per centum.

2. The treasurer of the Firemen’s Association of the State of New York, who shall pay over the same to the treasurer of the Volunteer Firemen’s Home association at Hudson, N. Y., ten per centum.

3. To the treasurers of the exempt or veteran volunteer firemen’s associations existing in the borough of Queens at the time this act takes effect, forty-five per centum. Said forty-five per centum shall be apportioned by said fire commissioners among all such assoc’ations in proportion to the actual bona fide membership of each such association on the first day of January next preceding the time when such apportionment is made. In determining the memlership of such associations only exempt or honorably discharged volunteer firemen shall be considered as members.

The fire commissinner shall quarterly in each year render to each of the foregoing associations a sworn statement^n detail of the amounts collected and received by him as aforesaid and from whom and from what source on account of said tax during each quarter.

Sec. 3. This act shall take effect immediately.

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