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| REPUBLIC ACT NO. 781 - AN ACT TO
GRANT MUNICIPALITIES A SHARE IN THE ALLOTMENT OF NATIONAL INTERNAL
REVENUE IN GENERAL |
| 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."
Section 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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