Section 5
SEC. 5. There is hereby inserted after Section 97 of PD 464, as amended, a new section to be designated as Section 97-A, which shall read as follows: “SEC. 97-A. Grant of Special Authority to Minister of Finance. – Whenever public interest shall so require, or in special cases of economic dislocation or imbalance arising from natural calamities, the Minister of Finance shall, upon direction or approval of the President of the Philippines, formulate and prescribe a scheme of graduated realty tax payments and/or a system of equalizing real property valuations for taxation purposes, or such remedial measures that would ease the tax burden, subject to such conditions and requirements as may be deemed necessary.”