Section 12. Validation of General Business and Investment Income Taxes.--The taxes imposed prior to January 1, 1969 by any district pursuant to any of the following acts and parts of acts are hereby validated and confirmed, notwithstanding any statute or law to the contrary:
(1) Act of May 23, 1949 (P.L.1669), entitled, as amended, "An act to provide revenue for school districts of the first class by imposing a tax on persons engaging in certain businesses, professions, occupations, trades, vocations and commercial activities therein; providing for its levy and collection; conferring and imposing powers and duties on the Board of Public Education, receiver of school taxes and school treasurer in such districts; and prescribing penalties."
(2) Subsection (b) of section 1, act of August 9, 1963 (P.L.640), entitled "An act empowering cities of the first class, coterminous with school districts of the first class, to authorize the boards of public education of such school districts to impose certain additional taxes for school district purposes, and providing for the levy, assessment and collection of such taxes."