Bill Type
Congress Name
Long Title
AN ACT INCREASING THE INTERNAL REVENUE ALLOTMENTS (IRA) OF LOCAL GOVERNMENT UNITS, (LGUS) IN PROVIDING FOR ITS EQUITABLE DISTRIBUTION, AUTHORIZING ITS AUTOMATIC RETENTION, AMENDING FOR THE PURPOSE SECTION 284, 285 AND 286 OF REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991 AND FOR OTHER PURPOSES
Date filed
July 13, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 1026, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING THE INTERNAL REVENUE ALLOTMENTS (IRA) OF LOCAL GOVERNMENT UNITS, (LGUS) IN PROVIDING FOR ITS EQUITABLE DISTRIBUTION, AUTHORIZING ITS AUTOMATIC RETENTION, AMENDING FOR THE PURPOSE SECTION 284, 285 AND 286 OF REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991 AND FOR OTHER PURPOSES | |
| ABSTRACT : This bill calls for the amendment of the Local Government Code by increasing the allotment in the internal revenue taxes of local government units. From the present forty, it will be increased to sixty percent at a rate of five percent per annum over a period of four year effective the immediately proceeding fiscal year.> The bill likewise seeks equitable distribution of the IRA after the deduction of the costs of devolution. Finally, it mandates the automatic retention of the IRA such that theLGU will have immediate access to all the funds it needs for its operations. | |
| PRINCIPAL AUTHOR/S : COJUANGCO, CARLOS O. | |
| DATE FILED : 2001-07-13 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Espino | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Syjuco (001 ) | 2. Badelles (017 ) |
| 3. Puentebella (005 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON LOCAL GOVERNMENT ON 2001-07-25 |
Abstract
This bill calls for the amendment of the Local Government Code by increasing the allotment in the internal revenue taxes of local government units. From the present forty, it will be increased to sixty percent at a rate of five percent per annum over a period of four year effective the immediately proceeding fiscal year.> The bill likewise seeks equitable distribution of the IRA after the deduction of the costs of devolution. Finally, it mandates the automatic retention of the IRA such that theLGU will have immediate access to all the funds it needs for its operations.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.