Section 2Sec./Art. 2

Section 9 of Republic Act No. 7978 is hereby amended to read as follows:

"Section 9. In consideration of the franchise and rights herein granted, the grantee shall pay to the national treasury a franchise tax equal to twenty-five percent (25%) of its gross earnings, which is equivalent to the commissions/fees earned by the grantee out of total wager funds, allotted as follows:

"(a) Three percent (3%) to the national government;

"(b) Five percent (5%) to the City of Kalookan, or if the racetrack is located elsewhere, then to such city or municipality where it is located;

"(c) Five percent (5%) to the public health workers under the Magna Carta for Public Health Workers and three percent (3%) to the cardiovascular program of the Department of Health;

"(d) Five percent (5%) to the Philippine Anti-Tuberculosis Society;

"(e) Two percent (2%) to the White Cross; and

"(f) Two percent (2%) to the Water For Life program of the Department of Health.

"The said tax shall be paid monthly and shall be in lieu of any and all taxes, except the income tax, of any kind, nature and description levied, established or collected by any authority whether barrio, municipality, city, provincial or national, on its properties, whether real or personal, from which taxes the grantee is hereby expressly exempted."