Amending Sections 10 (C) And 13 Of Presidential Decree No. 6-A (Educational Development Decree Of 1972) DatedSeptember 29, 1972, Authorizing The Extension Of Accruals To The Special Science

Case Overview and Summary

Summary of Presidential Decree No. 365

Amending Sections 10(c) and 13 of Presidential Decree No. 6-A (Educational Development Decree of 1972)

- Rationale:
  - Sustained promotion of science and technology is vital for economic and social development. (Preamble)
  - Adequate and steady funding is required for scientific and technological programs, projects, and activities of the Government. (Preamble)

- Provisions:
  - Section 1: Amends Section 10(c) of Presidential Decree No. 6-A:
    - Allocates P10,000,000 from the Special Science Fund for Fiscal Year 1972-1973. (Section 1)
    - Allocates P10,000,000 annually from the Special Science Fund until June 30, 1982, from the taxes provided under Republic Act No. 5448. (Section 1)

  - Section 2: Amends Section 13 of Presidential Decree No. 6-A:
    - Transfers P10,000,000 from the Special Science Fund established under Republic Act No. 5448 to the Educational Special Account upon approval of this Decree. (Section 2)
    - From July 1, 1973, until June 30, 1982, P10,000,000 of the total annual collection from taxes imposed under Republic Act No. 5448 shall accrue to the Educational Special Account. (Section 2)

  - Section 3:
    - Except for the amendments in Sections 10(c) and 13, the total annual collection from taxes imposed under Republic Act No. 5448 shall continue until June 30, 1982, and be expended by the National Science Development Board in pursuance of the objectives of said Act. (Section 3)

  - Section 4:
    - This Decree shall take effect immediately. (Section 4)