AN ACT AMENDING SECTION 8 OF REPUBLIC ACT NUMBERED SEVENTY-TWO HUNDRED AND TWENTY-SEVEN, OTHERWISE KNOWN AS THE BASES CONVERSION AND DEVELOPMENT ACT OF 1992, PROVIDING FOR THE DISTRIBUTION OF PROCEEDS FROM THE SALE OF PORTIONS OF METRO MANILA MILITARY CAMPS, AND FOR OTHER PURPOSES.

"(1) Thirty five percent (35%) — To primarily finance the self-reliance and modernization program of the AFP, the transfer of the AFP military camps and the construction of new camps and the rehabilitation and expansion of the AFP's medical facilities, and the modernization of the government arsenal;

"(2) Twenty-seven and a half percent (27.5%) — To finance the construction and upgrading of infrastructure such as highways, railways and other transport facilities to make Subic, Clark and other former bases accessible: Provided, That other public works, utilities and irrigation projects not specified herein shall be included: Provided, further, That the conversion into commercial uses of the former military baselands proper and their extensions shall be undertaken as much as practicable through the Build-Operate-Transfer (BOT) scheme or financed by locator enterprises: Provided, finally, That this appropriation shall be retained by the Conversion Authority as part of its paid-up capital, pursuant to Section 6 of this Act:

"(3) Twelve percent (12%) — To finance the National Shelter Program: Provided, That fifty percent (50%) thereof, shall be used to finance mass social housing project for the underprivileged and homeless citizens of the country and the other fifty percent (50%) to concessional and long-term housing loan assistance for the homeless of Metro Manila. Olongapo City, Angeles City and other affected municipalities contiguous to the base areas;

"(4) Three percent (3%) — To finance the National Health Insurance Program;

"(5) Five percent (5%) — To finance critical infrastructure projects not covered by the Build-Operate-Transfer (BOT) program in areas surrounding the former baselands;

"(6) Two percent (2%) — to finance the benefits/claims of Military War Veterans and their dependents under Republic Act No. 7696;

"(7) One percent (1%) — As contribution for the Higher Education Development Fund under Section 10 of Republic Act No. 7722, otherwise known as the Higher Education Act of 1994, the amount of Five hundred million pesos (P500,000,000) or so much thereof, and the balance to finance students scholarship, faculty development and the improvement of physical plants of colleges and universities under the Commission on Higher Education (CHED);

"(8) Two percent (2%) — to finance the science and technology scholarships and training of thousands of young Filipino scientists and students in selected countries to be identified by the Department of Science and Technology; and the Study Now Pay Later Program for poor but deserving youths who shall enroll or are enrolled in science and technology (S&T) courses which will propel the country to achieve modernization and competitive excellence in the 21st century: Provided, That at least one (1) scholar/trainee shall be selectedfrom each municipality/city of the country: Provided, further, That they shall render service to the Government for at least three (3) years or shall engage in S&T entrepreneurial activities within the country;

"(9) One percent (1%) — To finance the multi-year program of the prosecution service;

"(10) Two percent (2%), but in no case exceeding Two billion pesos (P2,000,000,000) — To finance a multi-year modernization program of the National Bureau of Investigation (NBI), the Philippine National Police (PNP) and improvement of prison facilities.

"Provided, That seventy percent (70%) of this appropriations shall be used for capital outlay and thirty percent (30% for training programs and early retirement schemes for their officers and personnel.

"(11) One percent (1%), but in no case to exceed One billion pesos (P1,000,000,000) — To finance a multi-year judicial reform program;

"(12) Two percent (2%) to finance the establishment of pre-school and daycare centers nationwide;

"(13) One-half percent (1/2%) but not to exceed Five hundred million pesos (P500,000,000) for the summer program for the education of students (SPES) in accordance with Republic Act No. 7323;

"(14) One percent (1%) for the construction of Senior Citizens Centers as provided under Republic Act No. 7876;

"(15) Three percent (3%) to the emergency and contingent needs of the areas devastated by the Mount Pinatubo eruptions;

"(16) Two percent (2% for infrastructure development of future special economic zones to be created;

"Approximately forty hectares (40 has.) of land in Fort Bonifacio, Phase I, shall be retained as national government and local government centers, sports facilities and parks: Provided, That in the case of Fort Bonifacio, two and five-tenths percent (2.5%) of the proceeds thereof in equal shares shall each go to the Municipalities of Makati, Taguig and Pateros: Provided, further, That in no case shall farmers affected be denied due compensation.

"The provisions of law to the contrary notwithstanding, the proceeds of the sale thereof shall not be diminished and, therefor, exempt from all forms of taxes and fees."

Sec.  2. The President of the Philippines is hereby authorized to sell other portions of lands in military camps in Metro Manila and in Clark and Subic and other former baselands and other unused portions of existing military reservations, in whole or in part, which are hereby declared alienable and disposable, pursuant to the provisions of existing laws and regulations governing sales of government properties: Provided, That no sale or disposition of such lands will be undertaken until a development plan embodying projects for conversion by the Conversion Authority or the Subic Authority shall be approved by Congress.

Sec. 3. Other provisions of Republic Act No. 7227, otherwise known as the Bases Conversion and Development Act of 1992, which are not affected by the provisions of Section 8 hereof shall remain in force and effect.

Sec. 4. Rules and Regulations. — The President of the Philippines shall promulgate such rules and regulations as may be necessary for the proper implementation of this Act.

Sec. 5. Separability Clause. — If any of provisions of this Act is declared invalid, the remainder of this Act or any provision not affected thereby shall remain in force and effect.

Sec. 6. Repealing Clause. — All laws, decrees, ordinances, rules and regulations, executive or administrative orders, and other presidential issuances inconsistent with this Act, are hereby repealed, amended accordingly.