Republic Act No. 8245: An act appropriating the sum of fourteen billion four hundred fifty-five million pesos (p14,455,000,000) for the increased share in 1997 of local government units in the national internal revenue taxes and for other purposes

Republic Act No. 8245

An act appropriating the sum of fourteen billion four hundred fifty-five million pesos (p14,455,000,000) for the increased share in 1997 of local government units in the national internal revenue taxes and for other purposes

AN ACT APPROPRIATING THE SUM OF FOURTEEN BILLION FOUR HUNDRED FIFTY-FIVE MILLION PESOS (P14,455,000,000) FOR THE INCREASED SHARE IN 1997 OF LOCAL GOVERNMENT UNITS IN THE NATIONAL INTERNAL REVENUE TAXES AND FOR OTHER PURPOSES

In plain language

This act appropriates P14.455 billion for the increased share of local government units in the 1997 national internal revenue taxes and other purposes, allocating the funds according to the Local Government Code and RA 7160, and releasing them directly to LGUs.

Appropriation of P14,455,000,000 for LGU share in 1997 IRD

Allocation among LGUs per Section 285 of RA 7160

Release of funds by the Department of Budget and Management

Use of funds in accordance with the Local Government Code and RA 7160

Effectivity on January 1, 1997

Appropriation

Local Government

Internal Revenue

Budget

RA 8245

Tenth Congress

Republic Act No. 8245 December 30, 1996

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Appropriation, Allotment and Release of Funds

The amount of Fourteen billion four hundred fifty-five million pesos (14,455,000,000) is hereby appropriated for the increased share in 1997 of local government units in the internal revenue taxes pursuant to Section 284 of Republic Act No. 7160, the Local Government Code of 1991, and shall be apportioned among the local government units in accordance with the formula prescribed in Section 285 thereof, after deducting the actual cost of devolution and the cost of city-funded hospitals as of December 31, 1992. Said internal revenue allotment shall be released directly by the Department of Budget and Management to the local government units concerned.

Section 2. Use of Funds

The use of funds herein appropriated shall be in accordance with the provisions of the Local Government Code of 1991, Republic Act No. 7160.

Section 3. Effectivity

This Act shall take effect on January 1, 1997.

Approved: December 30, 1996.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.