Section 1
SECTION 1. Section 9, Article 1, Chapter II of Presidential Decree No. 231, otherwise known as the Local Tax Code, is hereby amended to read as follows: "SEC. 9. Franchise Tax—Any provision of special laws to the contrary notwithstanding, the province may impose a tax on businesses enjoying franchise, based on the gross receipts realized within its territorial jurisdiction, at the rate not exceeding one-half of one per cent of the gross annual receipts for the preceding calendar year; provided, however, that the franchise tax authorized in this section shall not be imposed on broadcast radio stations and television firms duly registered with the Broadcast Media Council created under Presidential Decree No. 576. * * * * * * *