This bill seeks to impose penalty upon any person who makes or draws and issues any check to apply on account or for value, knowing at the time of issue that he does not have sufficient funds in or credit with the drawee bank for the payment of suchcheck in full upon its presentment, which check is subsequently dishonored by the drawee bank for insufficiency of funds or credit or would have been dishonored for the same reason had not the drawer, without any valid reason, ordered the bank to stop payment, shall be punished by imprisonment of not less than thirty days but not more than one (1) year or by a fine of not less than but not more than double the amount of the check which fines shall in no case exceed Two Hundred Thousand Pesos, oor both such fine and imprisonment at the discretion of the court. > The first election for sectoral representatives in the Sangguniang Panlalawigan, Sangguniang Bayan and Sangguniang Panlungsod shall be held simultanteously with the local elections