Bill Type
Congress Name
Long Title
AN ACT RESTORING THE TAX EXEMPTION PRIVILEGES OF LOCAL WATER DISTRICTS UNDER SECTION 46 OF PRESIDENTIAL DECREE NO. 198, AS AMENDED AND FOR OTHER PURPOSES
Date filed
November 5, 1999
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB08713 | |
| FULL TITLE : AN ACT RESTORING THE TAX EXEMPTION PRIVILEGES OF LOCAL WATER DISTRICTS UNDER SECTION 46 OF PRESIDENTIAL DECREE NO. 198, AS AMENDED AND FOR OTHER PURPOSES | |
| ABSTRACT : Section 46 of P.D. 198, as amended, granting tax exemption privileges to local waster districts is hereby restored and shall be effective for a period of ten (10) years from approval of this Act. Water districts shall likewise be exmepted from the provision of R.A. 7656 requiring government-owne d and-controlled corporations (GOCCs) to remit 50% of their annual net oincome to the National Government, Provided, that the amount supposed to be remitted, is utilized by the water district concerned, for the continuing expansion and improvement of its system. | |
| PRINCIPAL AUTHOR/S : ROXAS, MANUEL A. | |
| DATE FILED : 1999-11-05 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. | 2. |
| 3. | 4. |
| 5. | 6. |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 1999-11-15 |
Abstract
Section 46 of P.D. 198, as amended, granting tax exemption privileges to local waster districts is hereby restored and shall be effective for a period of ten (10) years from approval of this Act. Water districts shall likewise be exmepted from the provision of R.A. 7656 requiring government-owne d and-controlled corporations (GOCCs) to remit 50% of their annual net oincome to the National Government, Provided, that the amount supposed to be remitted, is utilized by the water district concerned, for the continuing expansion and improvement of its system.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.