Republic of the Philippines
Congress of the Philippines
Metro ManilaFourteenth Congress
Second Regular SessionBegun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand eight.
Republic Act No. 9521 March 05, 2009
AN ACT CREATING A NATIONAL BOOK DEVELOPMENT TRUST FUND TO SUPPORT FILIPINO AUTHORSHIP
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
Section 1. Title. - This Act shall be known as the "National Book Development Trust Fund Act".
Section 2. Statement of Policy. - It is the policy of the State to promote the continuing development of book publishing industry in all regions of the country, as embodied in Republic Act No. 8047 or the "Book Publishing Industry Development Act". Since authorship is one of the major components of book publishing, the national book policy obliges the State to create a dynamic and conducive environment for the promotion of Filipino authorship and other creative activities in book development.
Section 3. The National Book Development Trust Fund. - A...
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Republic Acts
AN ACT CREATING A NATIONAL BOOK DEVELOPMENT TRUST FUND TO SUPPORT FILIPINO AUTHORSHIP
Republic Act No. 9521
Summary of the National Book Development Trust Fund Act
Statement of Policy (Section 2):
- Promote the development of the book publishing industry in all regions of the country.
- Create a conducive environment for the promotion of Filipino authorship and creative activities in book development.
The National Book Development Trust Fund (Section 3):
- Established to support and promote Filipino authorship, especially in science and technology, and areas with few or no locally authored books.
- Contributions to the Fund:
- P50 million from the General Appropriation Act for 5 years (Section 3(a1)).
- P50 million from PAGCOR at P5 million per month for 10 months (Section 3(a2)).
- P50 million from PCSO at P5 million per month for 10 months (Section 3(a3)).
- Only the interest from the Fund shall be awarded as grants to promote Filipino authorship and support manuscript completion (Section 3(b)).
- Grants can be awarded only after 1 year from the Fund's organization and shall be distributed equitably among regions (Section 3(c)).
- Government corporations can give grants to the Fund at their discretion (Section 3(d)).
- Private contributions to the Fund are exempt from donor's tax and considered as 150% deductible from the donor's gross income (Section 3(f)).
- NBDB shall administer the Fund and appoint a portfolio manager for its management (Sections 3(g) and 3(h)).
- No part of the Fund's seed capital or earnings shall be used for administration overhead (Section 3(i1)).
- An external auditor shall perform an annual audit of the Fund's performance (Section 3(i2)).
Promotional Initiatives (Section 4):
- NBDB shall undertake activities to inform, promote, and develop Filipino authorship, in coordination with national and local government units.
Incentives to Local Government Units (Section 5):
- NBDB may provide incentives to LGUs, such as matching funds, for activities that support the objectives of the Act.
Statement of Policy (Section 2):
- Promote the development of the book publishing industry in all regions of the country.
- Create a conducive environment for the promotion of Filipino authorship and creative activities in book development.
The National Book Development Trust Fund (Section 3):
- Established to support and promote Filipino authorship, especially in science and technology, and areas with few or no locally authored books.
- Contributions to the Fund:
- P50 million from the General Appropriation Act for 5 years (Section 3(a1)).
- P50 million from PAGCOR at P5 million per month for 10 months (Section 3(a2)).
- P50 million from PCSO at P5 million per month for 10 months (Section 3(a3)).
- Only the interest from the Fund shall be awarded as grants to promote Filipino authorship and support manuscript completion (Section 3(b)).
- Grants can be awarded only after 1 year from the Fund's organization and shall be distributed equitably among regions (Section 3(c)).
- Government corporations can give grants to the Fund at their discretion (Section 3(d)).
- Private contributions to the Fund are exempt from donor's tax and considered as 150% deductible from the donor's gross income (Section 3(f)).
- NBDB shall administer the Fund and appoint a portfolio manager for its management (Sections 3(g) and 3(h)).
- No part of the Fund's seed capital or earnings shall be used for administration overhead (Section 3(i1)).
- An external auditor shall perform an annual audit of the Fund's performance (Section 3(i2)).
Promotional Initiatives (Section 4):
- NBDB shall undertake activities to inform, promote, and develop Filipino authorship, in coordination with national and local government units.
Incentives to Local Government Units (Section 5):
- NBDB may provide incentives to LGUs, such as matching funds, for activities that support the objectives of the Act.