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JUL
08
2013

SBN-613: Remittance of the Share of Local Government Units

An Act Providing The Direct Remittance To The Host Local Government Units Of Their Forty Percent (40%) Share Derived From The National Wealth Amending For The Purpose Section 293 Of Republic Act No. 7160, Otherwise Known As The Local Government Code Of 1991

  • The bill mandates that the forty percent (40%) local government unit (LGU) share from the utilization and development of national wealth shall be remitted directly to the LGU concerned in accordance with Section 286 of the Local Government Code and the remaining 60% to the National Treasury.

 

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