Bill Type
Congress Name
Long Title
AN ACT MANDATING MULTINATIONAL AND DOMESTIC MANUFACTURING CORPORATIONS TO ALLOCATE ONE PERCENT (1%) OF THEIR NET ANNUAL CORPORATE INCOME FOR SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND DEVELOPMENT
Date filed
July 23, 2002
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 5010, 12th Congress of the Republic | |
| FULL TITLE : AN ACT MANDATING MULTINATIONAL AND DOMESTIC MANUFACTURING CORPORATIONS TO ALLOCATE ONE PERCENT (1%) OF THEIR NET ANNUAL CORPORATE INCOME FOR SCIENTIFIC AND TECHNOLOGICAL RESEARCH AND DEVELOPMENT | |
| ABSTRACT : This bill seeks to oblige multinational and domestic manufacturing corporations to allocate one percent (1%) of their net annual corporate income for scientific and technological R & D activities. By so proposing, it hopes to lend substance to the constitutional provision which mandates govenrment to give priority to research and development. It likewsie hopes that by giving momentum to R & D activities, we will ensure sustained economic growth. | |
| PRINCIPAL AUTHOR/S : PEREZ, FRANK S. | |
| DATE FILED : 2002-07-23 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Calalay (006 ) | 2. Syjuco (017 ) |
| 3. Mathay (042 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON TRADE AND INDUSTRY ON 2002-07-30 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON WAYS AND MEANS |
Abstract
This bill seeks to oblige multinational and domestic manufacturing corporations to allocate one percent (1%) of their net annual corporate income for scientific and technological R & D activities. By so proposing, it hopes to lend substance to the constitutional provision which mandates govenrment to give priority to research and development. It likewsie hopes that by giving momentum to R & D activities, we will ensure sustained economic growth.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.