Franchise to.
Section 9
SEC. 9. Franchise to. — Any provision of special laws to the contrary notwithstanding, province may impose a lax on businesses enjoying franchise, based on the gross receipts realized within its territorial jurisdiction, at the rate of not exceeding one-half of one percent of the gross annual receipts for the preceding calendar year. In the case of newly started business, the rate shall not exceed three thousand pesos per year. Sixty percent of the proceeds of the tax shall accrue to the general fund of the province and forty percent to the general fund of the municipalities serviced by the business on the basis of the gloss annual receipt derived therefrom by the franchise holder. In the case of a newly started business, forty percent of the proceeds of the tax shall be divided equally among the municipalities serviced by the business.