AN ACT CONTINUING THE EXISTING CLASSIFICATIONS OF PROVINCES AND MUNICIPALITIES AND AUTHORIZING THE PRESIDENT OF THE PHILIPPINES TO MAKE PARTIAL READJUSTMENTS THEREOF
Sec. 2. Beginning with the year nineteen hundred and fifty-one, and for each period of five consecutive years after said date, the President of the Philippines shall order the classification of the provinces and municipalities in accordance with the graduated amounts established in Sec. two thousand one hundred seventy of the Administrative Code, as amended, Commonwealth Act Numbered Two hundred ninety-eight, and Sec. one of Act Numbered Three thousand seven hundred ninety-eight: Provided, That whenever advisable in the public interest, the President of the Philippines may, before and after said date, make a partial readjustment of the classification of a province or municipality based on the average annual revenues of such province or municipality for any preceding three consecutive fiscal years in accordance with the graduated amounts.
Sec. 3. All acts or parts of acts which are inconsistent with the provisions of this Act are hereby repealed.
Sec. 4. This Act shall take effect upon its approval.
Approved: June 14, 1947