AN ACT TO ENCOURAGE, PROMOTE AND ALLOW PRIVATE COMPANIES AND INDIVIDUALS TO DONATE INFORMATION TECHNOLOGY EQUIPMENT (ITE) TO EDUCATIONAL AND/OR RESEARCH INSTITUTIONS BY PROVIDING TAX INCENTIVES THEREFOR, AMENDING FOR THE PURPOSE SECTIONS 34 AND 101 OF THE NATIONAL INTERNAL REVENUE CODE (NIRC), AS AMENDED, AND FOR OTHER PURPOSES

AN ACT GRANTING THE FISCAL INCENTIVES REVIEW BOARD (FIRB) THE SOLE AUTHORITY TO APPROVE ALL APPLICATIONS FOR TAX INCENTIVES AND SUBSIDIES, THEREBY AMENDING PRESIDENTIAL DECREE NO. 776 AS AMENDED BY EXECUTIVE ORDER NO. 93 SERIES OF 1986 AND FOR OTHER PURPOSES