Legislative History
| House Bill/Resolution NO. House Bill No. 3317, 12th Congress of the Republic |
| FULL TITLE : AN ACT AMENDING CERTAIN SECTIONS OF PRESIDENTIAL DECREE NUMBERED EIGHTEEN HUNDRED AND SIXTY-NINE, OTHERWISE KNOWN AS PAGCOR CHARTER ENTITLED `CONSOLIDATING AND AMENDING PRESIDENTIAL DECREE NOS. 1067-A, 1067-B, 1067-C, 1399 AND 1632, RELATIVE TO THEFRANCHISE AND POWERS OF THE PHILIPPINE AMUSEMENT AND GAMING CORPORATION (PAGCOR),'AND FOR OTHER PURPOSES |
| ABSTRACT : Significant AMENDMENTS to the PAGCOR Charter are as follows: 1. "SEC. 11-A FRANCHISE TAX. - THE CORPORATION SHALL PAY TO THE DEPARTMENT OF FINANCE THROUGH THE BUREAU OF INTERNAL REVENUE THE SUM EQUIVALENT TO FIVE PERCENT (5%) OF ITS GROSS AGGREGATEREVENUE AS FRANCHISE TAX." 2. THE GROSS AGGREGATE REVENUE OF THE CORPORATION SHALL BE DISTRIBUTED IN SEQUENTIAL ORDER AS FOLLOWS: (1) THE FIFTY PERCENT (50%) SHARE OF THE GOVERNMENT SHALL BE SET ASIDE AND SHALL ACCRUE TO THE GOVERNMENT OR GENERAL FUND TO BE REMITTED TO THE NATIONAL TREASURY ON QUARTERLY BASIS; (2) AFTER DEDUCTING ALL THE FOREGOING, FIVE PERCENT (5%) OF THE REMAINING AMOUNT SHALL BE ALLOCATED TO THE PHILIPPINE SPORT COMMISSION (PSC) AS CALLED FOR BY THE REPUBLIC ACT NO. 6847 SHHALL BE PAID ALSO ON A QUARTERLY BASIS. THIS FIVE PERCENT (5%) SHALL BE BASED ON ITS GROSS AGGREGATE REVENUE. (3) AFTER ALL OF THE ABOVE DEDUCTIONS, 10% OF THE GROSS AGGREGATE REVENUE SHALL BE SET ASIDE TO FUND PROJECTS OF THE CORPORATION, INCLUDIN |
| PRINCIPAL AUTHOR/S : PUENTEBELLA, MONICO O. |
| DATE FILED : 2001-10-02 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Syjuco (023 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GAMES AND AMUSEMENTS ON 2001-10-08 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON GOVERNMENT ENTERPRISES AND PRIVATIZATION |
Abstract
Significant AMENDMENTS to the PAGCOR Charter are as follows: 1. "SEC. 11-A FRANCHISE TAX. - THE CORPORATION SHALL PAY TO THE DEPARTMENT OF FINANCE THROUGH THE BUREAU OF INTERNAL REVENUE THE SUM EQUIVALENT TO FIVE PERCENT (5%) OF ITS GROSS AGGREGATEREVENUE AS FRANCHISE TAX." 2. THE GROSS AGGREGATE REVENUE OF THE CORPORATION SHALL BE DISTRIBUTED IN SEQUENTIAL ORDER AS FOLLOWS: (1) THE FIFTY PERCENT (50%) SHARE OF THE GOVERNMENT SHALL BE SET ASIDE AND SHALL ACCRUE TO THE GOVERNMENT OR GENERAL FUND TO BE REMITTED TO THE NATIONAL TREASURY ON QUARTERLY BASIS; (2) AFTER DEDUCTING ALL THE FOREGOING, FIVE PERCENT (5%) OF THE REMAINING AMOUNT SHALL BE ALLOCATED TO THE PHILIPPINE SPORT COMMISSION (PSC) AS CALLED FOR BY THE REPUBLIC ACT NO. 6847 SHHALL BE PAID ALSO ON A QUARTERLY BASIS. THIS FIVE PERCENT (5%) SHALL BE BASED ON ITS GROSS AGGREGATE REVENUE. (3) AFTER ALL OF THE ABOVE DEDUCTIONS, 10% OF THE GROSS AGGREGATE REVENUE SHALL BE SET ASIDE TO FUND PROJECTS OF THE CORPORATION, INCLUDIN
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.