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PRESIDENTIAL DECREE NO. 1234
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PRESIDENTIAL DECREE NO. 1234 -
INSTITUTING A PROCEDURE FOR THE MANAGEMENT OF SPECIAL AND FIDUCIARY
FUNDS EARMARKED OR ADMINISTERED BY DEPARTMENTS, BUREAUS, OFFICES AND
AGENCIES OF THE NATIONAL GOVERNMENT, INCLUDING GOVERNMENT-OWNED OR
CONTROLLED CORPORATIONS
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chanroblesvirtualawlibrary
WHEREAS,
the establishment of Special and Fiduciary Funds has been authorized
from time to time in order to facilitate the funding of priority
activities of Government including those undertaken by government-owned
or controlled corporations: chanroblesvirtualawlibrary
WHEREAS, the proper management of government finances makes it
necessary to institute a standard procedure in the release and control
of Special and Fiduciary Funds;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, de hereby
order and decree:cralaw:red
Section 1. All income and collections for Special or
Fiduciary Funds authorized by law shall be remitted to the Treasury and
treated as Special Accounts in the General Fund, including the
following:cralaw:red
a. Philippine Coconut Authority — Coconut Development
Fund, including all income derived therefrom under Sections 13 and 14
of Republic Act No. 1145; Coconut Investments Fund under Section 8 of
Republic Act No. 6260, including earnings, profits, proceeds and
interests derived therefrom; Coconut Consumers Stabilization Fund under
Section 3-A of PD No. 232, as inserted by Section 3 of P.D. No. 414 and
under paragraph 1(a) of P.D. No. 276; Coconut Industry Development Fund
under Section 3-B of P.D. No. 232, as inserted by Section 2 of P.D. No.
583; and all other fees accruing to the Philippine Coconut Authority
under the provisions of Section 19 of Republic Act No. 1365, in
accordance with Section 2 of P.D. No. 755 and all other income accruing
to the Philippine Coconut Authority under existing laws.
b. Philippine Port Authority — Percentage retention
from collection of fees, charges and fines authorized under Section 12
of P.D. No. 505; the license fees collected under Section 6-a) (iv) of
P.D. No. 857, the dues, rates and charges levied under Section 6-b)
(ix), the dues under Section 19 and the rates and charges under Section
20 of the same decree; and all the balances of any income or revenue
applied to the general reserves or other reserves of the Philippine
Port Authority under the provisions of Section 11 of P.D. No. 857,
including the income from investment under Section 12 of said decree.
c. Philippine Sugar Commission — All charges, fees
and contributions levied and collected pursuant to Section 4(c) and
(g), of P.D. No. 388, as amended by Section 2 of P.D. No. 1192 and
Section 13 of P.D. No. 388, as inserted by section 6 of P.D. No.
1192. chanroblesvirtualawlibrary
d. Philippine Tobacco Administration — The Tobacco
Industry Promotion and Market Stabilization Fund under Section 1 of
P.D. No. 288 amending the first paragraph of Section 15 of Article 8 of
R.A. No. 1135, as amended by R.A. No. 2233, R.A. No. 4114 and R.A. No.
5555.
e. Philippine Tourism Authority — All taxes collected
on travel fares under Sections 3 and 4 of Republic Act No. 1478, as
amended by P.D. No. 1205, including license fees collected pursuant to
Sections 9(e) and 6 thereof, pursuant to Section 11 of P.D. No. 189;
additional taxes on travel under Section 6 of Republic Act No. 6141, as
amended by P.D. No. 1205, including the percentage taxes on stock
transactions under Section 4, and surcharges under Section 5 thereof,
as well as hotel room taxes collected under the National Internal
Revenue Code, pursuant to Section 11 of P.D. No. 189 and LOI No. 397;
all fees, rentals, and charges under Section 5-G-11 of P.D. No. 564,
and the proceeds from taxes, fees, charges, rentals and income under
Section 7 of said decree, as exempted from the operations of P.D. No.
711, pursuant to LOI No. 397; and all proceeds of travel taxes imposed
under Section 1 of P.D. No. 1183, as amended by P.D. No. 1205. chanroblesvirtualawlibrary
f. Philippine Virginia Tobacco Administration — The
Tobacco Fund, which includes the proceeds collected from the tariff or
taxes of imported leaf tobacco and specific taxes on locally
manufactured Virginia Type cigarettes, under Section 5 of R.A. No.
4155, as amended by Section 7 of P.D. No. 1142.
g. Department of Energy and Affiliated
Agencies/Corporations — All license fees and charges collected from
government-approved price increases or from existing inventories
acquired prior to such cost increases, under Section 7(j) of Republic
Act No. 6173, as amended by Section 1 of P.D. No. 456, as further
amended by P.D. No. 800, and finally amended by P.D. No. 1206,
including income to the Special fund created under Section 8(j) of R.A.
No. 6173, as amended by P.D. No. 1206.
h. Department of Local Government and Community
Development and Affiliated Agencies — The Cooperatives Development Loan
Fund created by P.D. No. 175.
i. Other offices and agencies of the national
Government-owned of controlled corporations — All income derive
from measures authorized by law, including receipts from taxes, duties,
dues, fees, charges, levies, fines, imposts, rates, gains or any other
collection, revenues which are exempted by law from coverage of P.D.
No. 711 or are otherwise earmarked by law for specific activities or
which otherwise accrue directly to such offices or agencies, including
government-owned of controlled corporations, but excluding income from
business or commercial operation in the case of government-owned or
controlled corporations. chanroblesvirtualawlibrary
Section 2. The amounts collected and accruing to
Special or Fiduciary Funds shall be considered as being automatically
appropriated for the purposes authorized by law creating the said
Funds, except as may be otherwise provided in the General
Appropriations decree.
Section 3. The amounts collected under Special or
Fiduciary Funds shall be release to the implementing agencies subject
to the approval of the President and to Special Budget under Section 40
of P.D. No. 1177: PROVIDED, That funds needed for regular operations or
other duly authorized purposes may be automatically released under such
conditions as may be approved by the President.
Section 4. The funds once released shall be
administered by the government agency or corporations concerned and
shall be utilized only for the purposes authorized in the law creating
the said Special or Fiduciary Funds. chanroblesvirtualawlibrary
Section 5. Nothing in this Decree shall be construed
as changing the status of income authorized by law, from general funds
receipts to Special or Fiduciary Fund receipts.
Section 6. All the provisions of laws, decrees,
letters of instructions, orders, rules and regulations or parts thereof
which are inconsistent with or contrary to any of the provisions of
this Decree are hereby repealed, amended and/or modified accordingly.
Section 7. The Secretary of Finance and the
Commissioner of the Budget shall issue the rules and regulations needed
to implement this Decree. chanroblesvirtualawlibrary
Section 8. This Decree shall take effect immediately.
Done in the City of Manila,
this 8th day of November in the year of Our Lord, nineteen hundred and
seventy seven.
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