REPUBLIC ACT NO. 781 - AN ACT TO GRANT MUNICIPALITIES A SHARE IN THE ALLOTMENT OF NATIONAL INTERNAL REVENUE IN GENERAL.
[ REPUBLIC ACT NO. 781, June 21, 1952 ]
AN ACT TO GRANT MUNICIPALITIES A SHARE IN THE ALLOTMENT OF NATIONAL INTERNAL REVENUE IN GENERAL.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. The penultimate paragraph of section eight of Commonwealth Act Numbered Five hundred and eighty-six, entitled "An Act to provide for the revision of the system of public elementary education in the Philippines including the financing thereof," is hereby amended to read as follows:
"Of the national internal revenue accruing to the National Treasury under section three hundred and sixty-two of the National Internal Revenue Code, there shall be set apart ten per centum as allotment to provinces and chartered cities to be divided equally between their general and road and bridge funds, and two per centum to municipalities to be divided equally between their general and permanent improvement funds.
SEC. 2. This Act shall take effect beginning with the fourth quarterly allotment during the fiscal year nineteen hundred and fifty-two to nineteen hundred and fifty-three.
Approved, June 21, 1952.
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