Be it enacted by the National Assembly of the Philippines:
Section 1. Section one of Commonwealth Act Numbered Four hundred and sixty-four, as amended by Commonwealth Act Numbered Five hundred and twenty-four, is further amended to read as follows:
“Sec. 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, and all penalties that have become due thereon and remaining unpaid are remitted, if fifty per centum of the tax corresponding to the year nineteen hundred and thirty-eight, and the entire tax corresponding to the year nineteen hundred and thirty-nine had been paid on or before June thirtieth, nineteen hundred and forty.”
Section 2. This Act shall take effect upon its approval.