AMENDING SECTIONS FORTY-ONE AND EIGHTY-SEVEN OF PRESIDENTIAL DECREE NUMBERED -FOUR HUNDRED SIXTY^FOUR, AS AMENDED, OTHERWISE KNOWN AS THE REAL PROPERTY TAX CODE, AND FOR OTHER P…

WHEREAS, at the time the Batasang Pambansa adjourned its
Sixth Regular Session, a number of important bills were left unacted upon due to
the lack of material time ;

WHEREAS, one of these legislative measures is Parliamentary
Bill No. 3452 which, as modified by the Committee on Education, Culture and
Sports and the Committee on Finance, was favorably recommended for immediate
enactment to the Batasang Pambansa under Joint Committee Report No.
1111;
Whereas, the afore-cited P. B. No. 3452, in substitution of the
original bill and in consolidation with Parliamentary Bills Nos. 3471, 4347,
4352, 4437, 4571 and 7251, if enacted into law, will considerably augment the
respective shares of provinces, cities and municipalities in the Special
Education Fund created under Republic Act No. 5447;

WHEREAS, the said P. B. No. 3452, as modified by both
committees, will make it possible for local government units to adjust the
salaries of teachers of the national government serving in their respective
jurisdictions, in addition to the other purposes mentioned in Section 1 of R.A.
No. 5447, as amended.
Whereas, the Cabinet has recommended the promulgation
of a presidential decree for the purpose;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me »y the Constitution, do hereby
decree and order the following :

SECTION 1. Section 41 of Presidential Decree Numbered 464,
otherwise known as the Real Property Tax Code, as amended, is hereby further
amended to read as follows:

“SEC. 41. An additional one per cent tax on real property
for the Special Education Fund.—There is hereby imposed an annual tax of one per
cent on real property to accrue to the Special Education Fund created under
Republic Act No. 5447, which shall be in addition to the basic real property tax
which local governments are authorized to levy, assess, and collect under this
Code: Provided, That real property granted exemption under Section 40 of this
Code shall also be exempt from the imposition accruing to the Special Education
Fund.”

SEC. 2. Subsection (b) of Section 87 of the same Code is
hereby further amended to read as follows:

“SEC. 87. Application of proceeds.—

“(b) The entire proceeds of the additional one per cent real property tax
levied for the Special Education Fund created under Republic Act No. 5447
collected in the province or city on real property situated in their respective
territorial jurisdictions shall be distributed as follows:

“(1) Collections in the provinces: Fifty-five per cent shall accrue to the
municipality where the property subject to the tax is situated; twenty-five per
cent shall accrue to the province; and twenty per cent shall be remitted to the
Treasurer of the Philippines.

“(2) Collections in the cities and in the cities and municipalities of Metro
Manila: Eighty per cent shall be retained by cities, including cities and
municipalities of Metro-Manila, and twenty per cent shall be remitted to the
Treasurer of the Philippines.”

SEC. 3. Section 87 of the same Code is further amended by
adding thereto new sub-section to be known as subsection (e), which shall read
as follows:

“e) The provisions of existing laws to the contrary notwithstanding, the
proceeds of the Special Education Fund accruing to the local governments may be
used for the salary adjustment of teachers of the national government, in
addition to the other purposes mentioned in Section 1 of Republic Act No. 5447,
as amended.”

SEC. 4. The Minister of Finance, in consultation with the
Minister of Education, Culture and Sports and the Minister of the Budget, shall
issue rules and regulations to effectively implement the provisions of this
Decree.

SEC. 5. All acts, laws, decrees, rules and regulations or
parts thereof inconsistent herewith are hereby repealed or modified
accordingly.

SEC. 6. This Decree shall take effect upon its approval.

Done in the City of Manila, this 29th day of March, in the Year of Our Lord,
nineteen hundred and eighty-four.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.)JUAN C. TUVERA
		Presidential Executive Assistant