Commonwealth Act No. 524, approved on May 10, 1940, amends Section 1 of Commonwealth Act No. 464, which relates to the remission of unpaid real property taxes and penalties on forfeited real property. It establishes a new deadline for payment, allowing the remission of taxes due on properties forfeited or delinquent before January 1, 1939, provided that 50% of the tax for 1938 and the full tax for 1939 are paid by April 30, 1940. This act aims to provide relief to property owners by facilitating the settlement of outstanding tax obligations. The act takes effect upon its approval.
May 10, 1940
COMMONWEALTH ACT NO. 524
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 CORRESPONDING TO THE YEARS NINETEEN HUNDRED AND THIRTY-EIGHT AND NINETEEN HUNDRED AND THIRTY-NINE
SECTION 1. Section one of Commonwealth Act Numbered Four hundred and sixty-four is 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, 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 entire tax corresponding to the year nineteen hundred and thirty-nine is fully paid on or before April thirtieth, nineteen hundred and forty."
SECTION 2. This Act shall take effect upon its approval.
Approved: May 10, 1940