AN ACT CREATING A NATIONAL BOOK DEVELOPMENT TRUST FUND TO SUPPORT FILIPINO AUTHORSHIP

Case Overview and Summary

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.