An Act amending the "Public School Code of 1949," approved March 10, 1949 (P. L. 30, No. 14), withdrawing gradually the authority of school districts to levy taxes on real property; authorizing school districts and city councils coterminous with districts of the first class to levy a local school surtax upon personal income; increasing the share of financial participation by the Commonwealth and decreasing the share of school districts and revising State school subsidy formulae accordingly; and requiring a judicial hearing before counties, municipalities and townships may increase real property taxes beyond certain limits.