Bill Type
Congress Name
Long Title
AN ACT EXEMPTING FROM TAXES THE PRIZES RECEIVED BY CONTESTANTS IN LOCAL COMPETITIONS IN THE FIELDS OF ARTS AND CULTURE, SPORTS, SCIENCE, ENVIRONMENT, AND INFORMATION TECHNOLOGY SPONSORED BY THE LOCAL GOVERNMENT UNITS, SCHOOLS, COLLEGES AND UNIVERSITIES, PARENTS-TEACHERS ASSOCIATIONS, CIVIC ORGANIZATIONS, OR NON-STOCK AND NON-PROFIT FOUNDATIONS
Date filed
December 6, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB03418 |
| FULL TITLE : AN ACT EXEMPTING FROM TAXES THE PRIZES RECEIVED BY CONTESTANTS IN LOCAL COMPETITIONS IN THE FIELDS OF ARTS AND CULTURE, SPORTS, SCIENCE, ENVIRONMENT, AND INFORMATION TECHNOLOGY SPONSORED BY THE LOCAL GOVERNMENT UNITS, SCHOOLS, COLLEGES AND UNIVERSITIES, PARENTS-TEACHERS ASSOCIATIONS, CIVIC ORGANIZATIONS, OR NON-STOCK AND NON-PROFIT FOUNDATIONS |
| ABSTRACT : The bill exempts from taxation all prizes, cash or in kind, including honoraria and gifts, received from local competitions in the fields of arts and culture, sports, sciences, environment and information technology. |
| PRINCIPAL AUTHOR/S : VILLAFUERTE, LUIS R. |
| DATE FILED : 2004-12-06 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2004-12-09 |
Abstract
The bill exempts from taxation all prizes, cash or in kind, including honoraria and gifts, received from local competitions in the fields of arts and culture, sports, sciences, environment and information technology.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.