48:15-37. Municipal consent to operation of autobusses; fares; franchise taxes

Any company organized under any law of this state operating a street railway may acquire, own and operate autobusses. Every such company before operating an autobus shall obtain, as required by law, the consent of the authorities of the municipality in or through which it intends to operate such autobus and the approval of such consent by the board of public utility commissioners, and shall comply with all lawful regulations governing the operation of autobusses which apply to other owners and operators thereof.

Every such company shall keep books, records and accounts of the operation of such autobusses so that the receipts and expenses of such operation may be distinguished from the receipts and expenses of street railway operation.

No fare for transportation on any autobus shall be increased because of any deficit from street railway operation, nor shall any street railway fare be increased because of any deficit from autobus operation.

Every such company shall pay the same franchise taxes upon gross receipts from the operation of autobusses as other owners and operators of autobusses and shall pay the same franchise and other taxes upon gross receipts from the operation of its street railway as other companies operating street railways.

The gross receipts from the operation of autobusses shall not be included in fixing the franchise or other taxes payable by such company because of its operation of its street railway, and the gross receipts from the operation of its street railway shall not be included in fixing the franchise or other taxes payable by such company because of its operation of autobusses.