Commonwealth Act No. 524, May 10, 1940

[ Commonwealth Act No. 524, May 10, 1940 ]

AN ACT AMENDING SECTION ONE OF COMMONWEALTH ACT NUMBERED FOUR HUNDRED AND SIXTY-FOUR, ENTITLED "AN ACT TO REMIT, UNDER CERTAIN CONDITIONS, UNPAID TAXES AND PENALTIES OF FORFEITED REAL PROPERTY," TO PROVIDE A NEW TIME LIMIT FOR THE PAYMENT OF THE TAXES NINETEEN HUNDRED AND THIRTY-EIGHT AND NINETEEN HUNDRED AND THIRTY-NINE.

Be it enacted by the National Assembly of the Philippines:

SECTION 1. Section one of Commonwealth Act Numbered Four hundred and sixty-four is amended to read as follows:

"SECTION 1. All the unpaid real property taxes due on any real property forfeited to the provincial or city government on or prior to January first, nineteen hundred and thirty-nine, or delinquent in the payment of taxes for more than one year prior to January first, nineteen hundred and thirty-nine, and all penalties that have become due thereon and remaining unpaid are remitted, on condition that fifty per centum of the tax corresponding to the year nineteen hundred and thirty-eight, and the thirty-nine is fully paid on or before April thirtieth, nineteen hundred and forty." SEC. 2. This Act shall take effect upon its approval.

Approved, May 10, 1940.