By authority of the United States, be it enacted by the Philippine Commission, that:
Section 1. Section forty-seven of Act Numbered One hundred and eighty-three, known as the Manila Charter, is hereby amended by providing that the annual tax on the assessed value of all real estate in the city of Manila subject to taxation for the year nineteen hundred and three shall be one and one-half per centum thereof, instead of two per centum thereof as now provided by said section.
Section 2. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of “An Act prescribing the order of procedure by the Commission in the enactment of laws,” passed September twenty-sixth, nineteen hundred.
Section 3. This Act shall take effect on its passage.