Section 1. All citizens of the Philippines shall have preference in the lease of public market stalls.

Sec. 2. The Secretary of Finance is hereby empowered to promulgate the necessary rules to carry into effect the purposes of this Act.

Sec. 3. All existing laws or parts thereof contrary to the provisions of this Act are hereby repealed.

Sec. 4. This Act shall take effect on the first day of January, nineteen hundred and forty-seven.