Bill Type
Long Title
AN ACT ALLOCATING THE COLLECTION FROM CAPITAL GAINS TAX AND VALUE-ADDED TAX ON THE SALE OF REAL PROPERTY TO THE AFP MODERNIZATION ACT TRUST FUND, AMENDING FOR THE PURPOSE CHAPTER II, TITLE XI OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED
Date filed
May 9, 2000
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB10826 |
| FULL TITLE : AN ACT ALLOCATING THE COLLECTION FROM CAPITAL GAINS TAX AND VALUE-ADDED TAX ON THE SALE OF REAL PROPERTY TO THE AFP MODERNIZATION ACT TRUST FUND, AMENDING FOR THE PURPOSE CHAPTER II, TITLE XI OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED |
| ABSTRACT : Rationale: To provide additional funding for the AFP Modernization Program, this bill seeks to allocate collections made by the Bureau of Internal Revenue from capital gains tax and value-added tax on the sale of real properties to the AFP Modernization Act Trust Fund. The proceeds from such taxes will go a long way in realizing the thrust of the AFP Modernization Program in terms of weapons systems, technology and bases development. |
| PRINCIPAL AUTHOR/S : SUAREZ, DANILO E. |
| DATE FILED : 2000-05-09 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB11832 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2000-05-15 |
Abstract
Rationale: To provide additional funding for the AFP Modernization Program, this bill seeks to allocate collections made by the Bureau of Internal Revenue from capital gains tax and value-added tax on the sale of real properties to the AFP Modernization Act Trust Fund. The proceeds from such taxes will go a long way in realizing the thrust of the AFP Modernization Program in terms of weapons systems, technology and bases development.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.