Bill Type
Congress Name
Long Title
AN ACT FIXING A MORE EQUITABLE ALLOTMENT OF INTERNAL REVENUE TAXES IN FAVOR OF LOCAL GOVERNMENT UNITS, AMENDING SECTION 284 OF REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991, AND FOR OTHER PURPOSES
Date filed
August 3, 1998
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB01615 | |
| FULL TITLE : AN ACT FIXING A MORE EQUITABLE ALLOTMENT OF INTERNAL REVENUE TAXES IN FAVOR OF LOCAL GOVERNMENT UNITS, AMENDING SECTION 284 OF REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991, AND FOR OTHER PURPOSES | |
| ABSTRACT : Allows LGUs to share in the national internal revenue taxes based on the GROSS collection of the SECOND fiscal year preceding the current fiscal year as follows: (1) the first year - 45%; (2) second year - 50%; and (3) third year and thereafter - 60%. | |
| PRINCIPAL AUTHOR/S : BUNYE, IGNACIO R. | |
| DATE FILED : 1998-08-03 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. | 2. |
| 3. | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON LOCAL GOVERNMENT ON 1998-08-06 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON WAYS AND MEANS |
Abstract
Allows LGUs to share in the national internal revenue taxes based on the GROSS collection of the SECOND fiscal year preceding the current fiscal year as follows: (1) the first year - 45%; (2) second year - 50%; and (3) third year and thereafter - 60%.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.