Journal of the Senate of the State of Texas, Regular Session of the Forty-Sixth Legislature Page: 97
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SENAT JOURAL 9
equal Thirty Dollars ($30.00) per
month, provided, that in no case shall
the amount to be paid out of State
funds exceed Fifteen Dollars ($15.00)
per month.
(5) The provisions hereof provid-
ing for old age assistance shall not
be construed as a vested right in the
recipient of old age assistance, and
all assistance granted under the pro-
visions hereof shall be deemed to be
granted and shall be held subject to
the provisions of any amendments to
this Constitution and such amenda-
tory or repealing Acts as may be
hereafter enacted by the Legislature,
and no recipient of old age assistance
shall have any claim for compensa-
tion or otherwise by reason of such
assistance being affected in any way
by any such amendatory or repealing
Acts.
(6) The Legislature shall have the
authority to accept from the Govern-
ment of the United States such finan-
cial aid for old age assistance as that
government may offer not inconsist-
ent with the limitations and provi-
sions provided in this amendment.
(7) There is hereby levied and
shall be collected a tax of one and six-
tenths (1.6%) per cent on the amount
of the actual value passing from one
person to another under or by virtue
of or in connection with each and
every transaction as hereinafter de-
fined taking place between two or
more persons, and which tax shall be
added to the value passing by the
transaction and be collected at the
time such transaction is consum-
mated, provided that in all cases
where the amount of the value which
passes by the transaction is fixed by
law, the tax of one and six-tenths
(1.6%) per cent of such value shall
be collected on the last sale transac-
tion only. Said tax shall be known
and referred to as "Transaction
Tax."
(8) The word "value" wherever
used in this Act shall mean:
(a) As applied to professional, bus-
iness, personal, mechanical, indus-
trial, commercial, engineering, scien-
tific, publicity, or other services of
whatsoever kind or nature, done or
performed, "value" shall mean the
amount charged, or contracted to be
paid for such services, either in mon-
ey and/or property, and as to any
such property the value thereof shall
be determined as provided in part (b)
of subsection (8) of this section.(b) As applied to tangible or in-
tangible property or any right, title,
interest, right of enjoyment or right
of possession therein, "value" shall
mean the actual fair market value
thereof in the locality where any
transaction with respect thereto takes
place, if such property or right or in-
terest therein has a market value;
provided, that if such property or
right or interest has no market value
in the locality where the transaction
with respect thereto takes place, then
the intrinsic worth of such property,
or any right or interest therein shall
be the value thereof; provided, fur-
ther, that if the parties to any trans-
action other than transactions involv-
ing services, shall have agreed upon
the fair price or value of the property,
or right or interest therein passing
by such transaction, provided such
agreed price or value shall be the val-
ue of the property or right or interest
therein so passing by such transac-
tion, provided such agreed price or
value shall represent the actual fair
value of the property or right or
interest therein and such transaction
is wholly bona fide, and the value
passing by the transaction has not
been so fixed and agreed upon for the
purpose of evading the payment of
any transaction tax under the provi-
sion of this amendment.
(9) The word "person" as used
herein shall mean any individual, firm,
co-partnership, corporation, associa-
tion, joint adventure, agent, trustee,
receiver, or any other group or com-
bination acting as a unit, and the plu-
ral as well as the singular number
unless the intention to give it more
limited meaning is clearly disclosed
by the context.
(10) The word "transaction" as
used herein shall mean and constitute
any dealings of every kind whatsoever
between two (2) or more persons as
defined in subsection nine (9) of this
section, wherein or whereby profes-
sional, business, personal, mechanical,
industrial, commercial, engineering,
scientific, publicity or other services
of whatsoever kind or nature are done
or performed, or wherein or whereby
any right, title, interest, estate, right
of enjoyment, or right of possession
in or to any tangible or intangible
property of any description passes,
or is, or may be fixed, determined,
changed, exchanged, effected, modi-
fied, increased, diminished or affected.
(11) The enumeration herein of
transactions which are subject to the97
SENATE JOURNAL
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Texas. Legislature. Senate. Journal of the Senate of the State of Texas, Regular Session of the Forty-Sixth Legislature, legislative document, 1939; (https://texashistory.unt.edu/ark:/67531/metapth145993/m1/97/: accessed May 3, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.