I do solemnly swear (or affirm) that I will support the Constitution of the United States and the Constitution of the State of Illinois; and that I will faithfully discharge all the duties of the office of assessor, deputy assessor or supervisor of assessments (as the case may be) to the best of my ability; that I will, without fear or favor, appraise all the property in said county at its fair cash value, said value to be ascertained at what the property would bring at a voluntary sale in the due course of business and trade; and that I will assess said property when so appraised at its said cash value; that I will cause every person, company or corporation assessed to sign his, her or its assessment schedule; and that I will administer to each and every person so signing said assessment schedule the oath thereon, and return said schedule so signed and file the same with the county clerk. APPROVED July 7, 1927. (Smith-Hurd, p. 2147)

§ 1.

REVENUE ACT OF 1898-COUNTY CLERK.

Amends section 10, Act of 1898.

§ 10. County clerks-Duties.

(HOUSE BILL No. 58. APPROVED JULY 14, 1927.)

AN ACT to amend section 10 of "An Act for the assessment of property and providing the means therefor and to repeal a certain Act therein named," approved February 25, 1898, as amended.

SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That section 10 of "An Act for the assessment of property and providing the means therefor, and to repeal a certain Act therein named," approved February 25, 1898, as amended, be and the same hereby is amended to read as follows:

§ 10. The county clerk shall before the first day of April in the year 1907, and every four years thereafter, make up, in books to be provided for that purpose a list of lands and lots to be assessed for taxes in the manner provided in the general revenue law. He shall also annually after the adoption of this Act, before the first day of April, make a list of lands and lots which are taxable or which shall become taxable for the first time and which are not already listed, and a list of lands and lots which have been subdivided and not listed by the proper description. Such lists shall be made up in the manner in which the county clerk is required by the general law to make such lists; provided, that in counties of one hundred twenty-five thousand inhabitants or over said books shall be made in duplicate.

APPROVED July 14, 1927.

(Smith-Hurd, p. 2148.)

SCHEDULE AND VALUATION.

§ 1. Amends sections 17 and 18, Act of

1898. § 17.

Form of schedule Re-
turn.

(SENATE BILL NO. 446.

§ 18. How property valuedState tax commission. APPROVED JULY 7, 1927.)

AN ACT to amend sections 17 and 18 of an Act entitled, “An Act for the assessment of property and providing the means therefor, and to repeal a certain Act therein named," approved February 25, 1898, in force July 1, 1898, as subsequently amended.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

SECTION 1. That sections 17 and 18 of an Act entitled, “An Act for the assessment of property and providing the means therefor, and to repeal a certain Act therein named," approved February 25, 1898, in force July 1, 1898, as subsequently amended, be and the same are hereby further amended so that said sections shall read respectively as follows:

817. The assessor shall furnish to each person required to list personal property a printed blank schedule, forms to be furnished by the Auditor of Public Accounts, upon which shall be printed a notice substantially as follows:

"This schedule must be filled out, sworn to, and returned to me in person or by mail at.... (Address)

.on or before.

You are to give a full, fair cash value of the articles mentioned as well as the amount of money required to be returned.

(Signature).

Assessor.'

There shall also be printed upon such blank the schedule now required by law, and the following, which is a part of this section: And every person required to list personal property or money shall fill out, subscribe and swear to, and return to the assessor, in person or by mail, at the time required, such schedule in accordance with law, giving the numbers, amounts, quantity and quality of all the articles. enumerated in said schedule by him possessed, or under his control, required to be listed by him for taxation. The assessor shall determine and fix the fair cash value of all items of personal property, including all grain on hand on the first day of April, and set down the same, as well as the amounts of notes, accounts, bonds and moneys, in a column headed, "full value," and ascertain and assess the same at said full value and set down said full value thereof in a column headed "assessed value," which last amount shall be the assessed value thereof for all purposes of taxation. The assessor or some person authorized by law to administer an oath, shall administer the oath required in this

section.

§ 18. Personal property shall be valued at its fair cash value, less such deductions as may be allowed by law to be made from credits, which value shall be set down in one column, to be headed "full value," which full value shall be set down in another column which shall be headed "assessed value." Real property shal! be valued at its fair

cash value, estimated at the price it would bring at a fair voluntary sale in the course of trade, which shall be set down in one column to be headed "full value," and said full value shall be set down in another column, which shall be headed "assessed value."

The State tax commission in valuing property assessed by them shall ascertain and determine respectively the fair cash value of such property, which fair cash value shall be set down in one column to be headed "full value," and said full value shall be set down in another column, which shall be headed "assessed value." The full value of all property so ascertained and set down shall be the assessed value for all purposes of taxation, limitation of taxation, and limitation of indebtedness prescribed in the constitution or any statute.

APPROVED July 7, 1927.

(Smith-Hurd, p. 2149)

STATE PURPOSES.

§ 1. Revenue funds for General State purposes and State school purposes.

§ 2. Officers to compute rates percent required-Auditor to certify

Repeal.

(HOUSE BILL No. 755. APPROVED JUNE 29, 1927.)

AN ACT to provide for the necessary revenue for State purposes. Be it enacted by the People of the State of Illinois, represented in the General Assembly:

SECTION 1. There shall be raised by levying a tax by valuation upon the assessed taxable property of the State, the following sums for the purposes hereinafter set forth:

For the general State purposes, to be designated "revenue fund." the sum of eighteen million dollars upon the assessed value of the property for the year A. D. 1927; eighteen million dollars upon the assessed value of the property for the year A. D. 1928; and for State school purposes, to be designated "State school fund," "(or common school fund)" the sum of eight million dollars upon the assessed taxable property for the year A. D. 1927, and the sum of eight million dollars upon the assessed taxable property for the year A. D. 1928, in lieu of the one and one-third mill tax.

§ 2. The Governor, the Auditor of Public Accounts and the State Treasurer shall, annually, compute the several rates per cent required to produce not less than the above amounts, anything in any other Act providing a different manner of ascertaining the amount of revenue required to be levied for State purposes to the contrary notwithstanding; and when so ascertained, the Auditor of Public Accounts shall certify to the county clerks, the proper rates per cent therefor, and also such definite rates for other purposes as are now or may be hereafter provided by law, to be levied and collected as State taxes, and all other laws and parts of laws in conflict with this Act are hereby repealed. APPROVED June 29, 1927.

AN ACT to amend section 1 of "An Act to tax gifts, legacies, inheritances, transfers, appointments and interests in certain cases, and to provide for the collection of the same, and repealing certain Acts therein named," approved June 14, 1909, in force July 1, 1909, as amended.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

SECTION 1. Section 1 of "An Act to tax gifts, legacies, inheritances, transfers, appointments and interests in certain cases, and to provide for the collection of same, and repealing certain Acts therein. named," approved June 14, 1909, in force July 1, 1909, as amended, is amended to read as follows:

§ 1. A tax shall be and is hereby imposed upon the transfer of any property, real, personal, or mixed, or of any interest therein or income therefrom, in trust or otherwise, to persons, institutions or corporations, not hereinafter exempted, in the following cases:

1. When the transfer is by will or by the intestate laws of this State, from any person dying, seized or possessed of the property while a resident of the State.

2. When the transfer is by will or intestate laws of property within the State, and the decedent was a non-resident of the State at the time of his death.

3. When the transfer is of property made by a resident, or by a non-resident when such non-resident's property is within this State, by deed, grant, bargain, sale or gift, made in contemplation of the death of the grantor, vendor or donor, or intended to take effect in possession or enjoyment at or after such death. When any such person, institution, or corporation becomes beneficially entitled in possession or expectancy to any property or income therefrom, by any such transfer, whether made before or after the passage of this Act.

4. Whenever any person, institution or corporation shall exercise a power of appointment derived from any disposition of property made either before or after the passage of this Act, such appointment, when made, shall be deemed a taxable transfer under the provisions of this Act, in the same manner as though the property to which such appointment relates belonged absolutely to the donee of such power and had been bequeathed or devised by such donee by will; and whenever any person or corporation possessing such a power of appointment so derived shall omit or fail to exercise the same within the time provided therefor, in whole or in part, a transfer taxable under the provisions of this Act shall be deemed to take place to the extent of such omission or failure, in the same manner as though the persons or corporations thereby becoming entitled to the possession or enjoyment of the property to which such power related had succeeded thereto by a will of

the donee of the power failing to exercise such power, taking effect at the time of such omission or failure.

5. Whenever property, real or personal, is held in the joint names of two or more presons, or is deposited in banks or other institutions or depositories in the joint names of two or more persons and payable to either or the survivor, upon the death of one of such persons the right of the surviving joint tenant or joint tenants, person or persons, to the immediate ownership or possession and enjoyment of such property shall be deemed a transfer taxable under the provisions of this Act in the same manner as though the whole property to which such transfer relates was owned by said parties as tenants in common and had been bequeathed to the surviving joint tenant or joint tenants, person or persons, by such deceased joint tenant or joint depositor by will.

The tax imposed by this Act in respect of personal property of non-residents (other than tangible personal property having an actual situs in this state) shall not be payable (1) if the transferor at the time of his death was a resident of a state or territory of the United States which at the time of his death did not impose a transfer tax or death tax of any character in respect of personal property of residents of this state (other than tangible personal property having an actual situs in such state or territory) or (2) if the laws of the state or territory of residence of the transferor at the time of his death contained a reciprocal provision under which non-residents were exempted from transfer taxes or death taxes of every character in respect of personal property (other than tangible personal property having an actual situs therein) provided the state or territory of residence of such non-residents allowed a similar exemption to residents of the state or territory of residence of such transferor. For the purposes of this section the District of Columbia and possessions of the United States shall be considered territories of the United States.

When the beneficial interests to any property or income therefrom shall pass to or for the use of any father, mother, lineal ancestor of decedent, husband, wife, child, brother or sister, wife or widow of the son or the husband of the daughter, or any child or children legally adopted, or to any person to whom the deceased, for not less than ten years prior to death, stood in the acknowledged relation of a parent: Provided, however, such relationship began at or before said person's fifteenth birthday and was continuous for said ten years thereafter: And, provided, also, that one of the parents of such person so standing in such relation shall be deceased when such relationship commenced. or to any lineal descendant of such decedent born in lawful wedlock. In every such case the rate of tax shall be:

Two per cent on any amount up to and including the sum of fifty thousand dollars in excess of the exemption:

Four per cent on the next one hundred thousand dollars or any part thereof:

Six per cent on the next one hundred thousand dollars or any part thereof: