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, enacted on December 30, 1996, appropriates ?14,455,000,000 for the increased share of local government units (LGUs) in the national internal revenue taxes for 1997. This allocation is in line with the Local Government Code of 1991 and will be distributed among LGUs based on a prescribed formula, after accounting for devolution costs and city-funded hospitals. The funds must be utilized as per the provisions of the Local Government Code. The Act takes effect on January 1, 1997, and was published in the Official Gazette on March 10, 1997.
Law Information
- Reference Number
- Republic Act No. 8245
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 30, 1996
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
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.
Published in the Official Gazette, Vol. 93 No. 10 page 1472 on March 10, 1997.
Cite This Law
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, Dec 30, 1996 (Philippines)
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 (Phil. 1996)
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