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Batas Pambansa Bilang 400
AN
ACT AMENDING SECTION FORTY-SIX OF BATAS PAMBANSA BILANG 232.
chan
robles
virtual law library
BATAS
PAMBANSA BILANG 400AN
ACT AMENDING SECTION FORTY-SIX OF BATAS PAMBANSA BILANG 232.chan
robles
virtual law library
chan
robles virtual law librarySection
1. Section forty-six of
Batas Pambansa Bilang 232 is amended to read as follows:chanroblesvirtuallawlibrarychanrobles virtual law library
"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."chanrobles virtual law library
Sec.
2. This Act shall take
effect upon approval.chanrobles virtual law library
Approved:
June 3, 1983
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