Commonwealth Act No. 415, enacted on May 22, 1939, appropriates ?2,975,000 to compensate local government units in the Philippines for revenue losses resulting from the abolition of the cedula tax. The funds are to be distributed by the Secretary of Finance based on the shares of the cedula tax collected in 1937. The allocated amounts will be added to the respective local funds that previously received the cedula tax proceeds. This Act took effect on January 1, 1939.
May 22, 1939
COMMONWEALTH ACT NO. 415
AN ACT TO APPROPRIATE TWO MILLION NINE HUNDRED SEVENTY-FIVE THOUSAND PESOS TO COMPENSATE THE PROVINCES, SUBPROVINCES, CHARTERED CITIES, MUNICIPALITIES, AND MUNICIPAL DISTRICTS FOR THE LOSS IN REVENUE ON ACCOUNT OF THE ABOLITION OF THE CEDULA TAX
SECTION 1. To compensate the provinces, subprovinces, chartered cities, municipalities, and municipal districts, for the loss which they incur in their respective revenues on account of the abolition of the cedula tax, there is appropriated, out of any funds in the Treasury of the Philippines not otherwise appropriated, the sum of two million nine hundred seventy-five thousand pesos, or so much thereof as may be necessary, to be distributed by the Secretary of Finance among the provinces, subprovinces, chartered cities, municipalities, and municipal districts on the basis of their shares in the proceeds of the cedula tax collected during the year nineteen hundred and thirty-seven.
SECTION 2. The amount to be thus allotted to a province, subprovince, chartered city, municipality, or municipal district shall accrue to the provincial, subprovincial, city, municipal, or municipal district funds to which the proceeds of the cedula tax accrued before its abolition.
SECTION 3. This Act shall take effect from January first, nineteen hundred and thirty-nine.
Approved: May 22, 1939