Legislative History
| House Bill/Resolution NO. House Bill No. 4396, 12th Congress of the Republic |
| FULL TITLE : AN ACT SEEKING TO RATIONALIZE RESOURCE ALLOCATION OF FUNDS GENERATED FROM THE OPERATIONS OF THE PHILIPPINE AMUSEMENT AND GAMING CORPORATION (PAGCOR), AMENDING FOR THIS PURPOSE SECTIONS 12 AND 15 OF PRESIDENTIAL DECREE EIGHTEEN HUNDRED AND SIXTY-NINE, OTHERWISE KNOWN AS THE PAGCOR CHARTER, AND FOR OTHER PURPOSES |
| ABSTRACT : SECTion 1. Section 12 of Presidential Decree No. 1869 is hereby amended to read as follows: SEC. 12. Special Condition of Franchise. - After deducting five (5%) percent as Franchise Tax, the Fifty (50%) percent share of the Government in the aggregate gross earnings of the Corporation from this Franchise, or 60% of the aggregate gross earnings should such be less than P150,000,000.00 , shall be immediately set aside and shall accrue to the General Fund to finance the priority infrastructure development projects and to finance the restoration of damage or destroyed facilities due to calamities, PROVIDED, HOWEVER, THAT AT LEAST FORTY PERCENT (40%) FROM SUCH AGGREGATE GROSS EARNINGS SHALL SERVE AS ADDITIONAL FINANCING TO THE ANTI-POVERTY PROOGRAM OF THE GOVERNMENT SUCH AS: (1) SOCIALIZED HOUSING; (2) FOOD, NUTRITION AND MEDICAL ASSISTANCE; (3) LIVELIHOOD DEVELOPMENT; (4) TEXTBOOKS AND DESKS PROCUREMENT; AND (5) PROTECTIVE SERVICES FOR CHILDREN AND YOUTH. > PROVIDED, FURTHER: THAT ANY AP |
| PRINCIPAL AUTHOR/S : BACANI, RODOLFO C. |
| DATE FILED : 2002-02-13 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Syjuco (041 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GAMES AND AMUSEMENTS ON 2002-02-20 |
Abstract
SECTion 1. Section 12 of Presidential Decree No. 1869 is hereby amended to read as follows: SEC. 12. Special Condition of Franchise. - After deducting five (5%) percent as Franchise Tax, the Fifty (50%) percent share of the Government in the aggregate gross earnings of the Corporation from this Franchise, or 60% of the aggregate gross earnings should such be less than P150,000,000.00 , shall be immediately set aside and shall accrue to the General Fund to finance the priority infrastructure development projects and to finance the restoration of damage or destroyed facilities due to calamities, PROVIDED, HOWEVER, THAT AT LEAST FORTY PERCENT (40%) FROM SUCH AGGREGATE GROSS EARNINGS SHALL SERVE AS ADDITIONAL FINANCING TO THE ANTI-POVERTY PROOGRAM OF THE GOVERNMENT SUCH AS: (1) SOCIALIZED HOUSING; (2) FOOD, NUTRITION AND MEDICAL ASSISTANCE; (3) LIVELIHOOD DEVELOPMENT; (4) TEXTBOOKS AND DESKS PROCUREMENT; AND (5) PROTECTIVE SERVICES FOR CHILDREN AND YOUTH. > PROVIDED, FURTHER: THAT ANY AP
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.