Republic Act No. 781, enacted on June 21, 1952, amends the allocation of national internal revenue to municipalities in the Philippines. It establishes that 10% of the national revenue will be shared among provinces and chartered cities, while 2% will be allocated to municipalities. The funds for municipalities will be equally divided between their general and permanent improvement funds. This law is effective starting from the fourth quarterly allotment of the fiscal year 1952-1953.
June 21, 1952
REPUBLIC ACT NO. 781
AN ACT TO GRANT MUNICIPALITIES A SHARE IN THE ALLOTMENT OF NATIONAL INTERNAL REVENUE IN GENERAL
The penultimate paragraph of section eight of Commonwealth Act Numbered Five hundred and eighty-six, entitled "An Act to provide for the revision of the system of public elementary education in the Philippines including the financing thereof," is hereby amended to read as follows:
"Of the national internal revenue accruing to the National Treasury under section three hundred and sixty-two of the National Internal Revenue Code, there shall be set apart ten per centum as allotment to provinces and chartered cities to be divided equally between their general and road and bridge funds, and two per centum to municipalities, to be divided equally between their general and permanent improvement funds."
SECTION 2. This Act shall take effect beginning with the fourth quarterly allotment during the fiscal year Nineteen Hundred and Fifty-Two to Nineteen Hundred and Fifty-Three.
Approved: June 21, 1952
Published in the Official Gazette, Vol. 48, No. 9, p. 3743 in September 1952