REPUBLIC ACT NO. 11262
AN ACT AMENDING SECTIONS 85 AND 103 OF REPUBLIC ACT NO. 9593, OTHERWISE KNOWN AS "THE TOURISM ACT OF 2009"
SECTION 1. Section 85 of Republic Act No. 9593, otherwise known as "The Tourism Act of 2009," is hereby amended to read as follows:
"SEC. 85. General Principles on the Grant and Administration of Incentives. —
"a) Recognizing the strategic economic importance of tourism, the necessity that investments within TEZs be properly coordinated with environmental, cultural and developmental imperatives, and the fundamental differences between the export manufacturing and tourism industries, the TIEZA shall have sole and exclusive jurisdiction to grant the incentives hereinafter provided.
"In the formulation of rules and regulations defining and implementing these incentives, and without derogating therefrom, the TIEZA may coordinate with the Board of Investments and other government agencies or entities responsible for the grant and administration of incentives to assist in the development of a rationalized national investment incentive policy.
"In the grant of incentives, it shall give equal preference to large investments, those with...
