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BATAS PAMBANSA BILANG. 400BATAS PAMBANSA BLG. 400 - AN ACT
AMENDING SECTION FORTY-SIX OF BATAS PAMBANSA BILANG 232
Section 1. Section forty-six of Batas Pambansa Bilang 232 is
amended to read as follows:
"Sec. 46.
Relating to School Property. — Real property, such as lands, buildings
and other improvements thereon used actually, directly and exclusively
for educational purposes, shall be subject to the real property tax
based on an assessment of fifteen percent of the market value of such
property: Provided, That all the proceeds from the payment thereof
shall accrue to a special private education fund which shall be managed
and disbursed by a local private school board which shall be
constituted in each municipality or chartered city with private
educational institutions with the mayor or his representative as
chairman and not more than two representatives of the institutional
taxpayers, and, likewise, not more than two residents of the
municipality or chartered city who are alumni of any of the
institutional taxpayers as members: Provided, finally, That in
municipalities or chartered cities wherein the number of private
institutions with individual enrollment of pupils and students over
five thousand exceeds fifteen, the members of the private school board
shall be increased to no more than fourteen members determined
proportionately by the Minister of Education, Culture and Sports. The
private school board shall adopt its own rules which shall enable it to
finance the annual programs and projects of each institutional
taxpayers for the following purposes: student-pupil scholarships;
improvement of instructional, including laboratory facilities, and/or
equipment; library books and periodicals acquisition; and extension
service in the community, in that order of priority."
Sec. 2. This Act shall take effect upon approval.
Approved: June 3, 1983
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