Amendatory Clause

Section 18. Amendatory Clause

(a) To transfer to the Fiscal Incentives Review Board the power of the Investment Promotion Agency Board to review, approve, or disapprove fiscal incentives and to mandate the Invetment Promotion Agency Board to recommend to the Fiscal Incentives Review Board after a thorough review of the application, the approval or disapproval of the same, the following provisions are hereby amended:

(1) Articles 7(3) and (8), 34, 35, and 36 of Executive Order No. 226, series of 1987, entitled: The Omnibus Investments Code of 1987;

(2) Section 1(A), (B), (D), and (E) of Executive Order No. 458, series of 1991, entitled: “Devolving the Powers and Functions of the Board of Investments Over Investments Within the Autonomous Region in Muslim Mindanao to the Autonomous Regional Government and for Other Purposes”;

(3) Section 7(a) and (c) of Republic Act No. 7903, entitled: “An Act Creating a Special Economic Zone and Free Port in the City of Zamboanga Creating for This Purpose the Zamboanga City Special Economic Zone Authority, Appropriating Funds Therefor, and for Other Purposes”;

(4) Sections 4(f), 8 and 13(c), (d), (r), (w) and (x) of Republic Act No. 9728, entitled: “An Act Converting the Bataan Economic Zone Located in the Municipality of Mariveles, Province of Bataan, into the Freeport Area of Bataan (FAB), Creating for this Purpose the Authority of the Freeport Area (AFAB), Appropriating Funds Therefor and for Other Purposes”, as amended by Republic Act No. 11453;

(5) Sections 5(1), 12(b), and 13(b)(11) of Republic Act No. 7227, entitled: “AN Act Accelerating the Conversion of Military Reservations into Other Productive Uses, Creating the Bases Conversion and Development Authority for this Purpose, Providing Funds Therefor and for Other Purposes”, as amended by Republic Act No. 9400;

(6) Section 69(n) of Subchapter IV-B of Republic Act No. 9593, entitled: “An Act Declaring a National Policy for Tourism as an Engine of Investment, Employment Growth and National Development, and Strengthening the Department of Tourism and its Attached Agencies to Effectively and Efficiently Implement That Policy, and Appropriating Funds therefor”, as amended by Republic Act No. 11262;

(7) Section 12(a), (b) and 9u) of Republic Act No. 9490, entitled: “An Act Establishing the Aurora Special Economic Zone in the Province of Aurora, Creating for the Purpose the Aurora Special Economic Zone Authority, Appropriating Funds Therefor and for Other Purposes”, as amended by Republic Act No. 10083, entitled: “AN Act Amending Republic Act No. 9490, Otherwise Known as the ‘Aurora Special Economic Zone Act of 2007”;

(8) Section 6(c) and (1) of Republic Act No. 7922, entitled: “An Act Establishing a Special Economic Zone and Free Port in the Municipality of Santa Ana and the Neighboring Islands in the Municipality of Aparri, Province of Cagayan, Providing Funds Therefor, and for Other Purposes”;

(9) Sections 4(a) and (q), and 6 of Presidential Decree No. 538, entitled: “Creating and Establishing the PHIVIDEC Industrial Authority and Making it a Subsidiary Agency of the Philippine Veterans Investment Development Corporation, Defining its Powers, Functions and Responsibilities, and for Other Purposes”; and

(10) Sections 12(a) and (b) and 13(a), (b) and (i), and 15 of Republic Act No. 7916, entitled: “An Act Providing for the Legal Framework and mechanisms for the Creation, Operation, Administration, and Coordination of Special Economic Zone in the Philippines, Creating for this Purpose, the Philippine Economic Zone Authority (PEZA), and for Other Purposes”, as amended by Republic Act No. 8748.

(b) The provisions of the following laws, including the tax incentives, that are inconsistent with this Act are hereby amended:

(1) Articles 69, 77, and 78 of Executive Order No. 226, series of 1987, entitled: The Omnibus Investments Code of 1987, as amended;

(2) Sections 24 and 35 of Republic Act No. 7916, entitled: “An Act Providing for the Legal Framework and Mechanisms for the Creation, Operation, Administration, and Coordination of Special Economic Zones in the Philippines, Creating for this Purpose, the Philippine Economic Zone Authority (PEZA), and for Other Purposes”, as amended by Republic Act No. 8748;

(3) Sections 12(c), 15, 15-A, 15-B, 15-C of Republic Act No. 7227, entitled: :An Act Accelerating the Conversion of Military Reservations into Other Productive Uses, Creating the Bases Conversion and Development Authority for this Purpose, Providing Funds Therefor and for Other Purposes" as amended by Republic Act No. 9400, and further amended by Executive Order No. 619, series of 2007;

(4) Section 6 of Republic Act No. 9400, entitled: “An Act Amending Republic Act No. 9229, as amended, Otherwise Known as the Bases Conversion and Development Act of 1992, and for Other Purposes”;

(5) Section 5(c) of Republic Act No. 9490, entitled: “AN Act Establishing the Aurora Special Economic Zone in the Province of Aurora, Creating for the Purpose the Aurora Special Economic Zone Authority, Appropriating Funds Therefor and for Other Purposes”, as amended by Republic Act No. 10083, entitled" “An Act Amending Republic Act No. 9490, Otherwise Known as the ‘Aurora Special Economic Zone Act of 2007”;

(6) Section 4(f) of Republic Act No. 79-3, entitled: “An Act Creating a Special Economic Zone and Free Port in the City of Zamboanga Creating for This Purpose the Zamboanga City Special Economic Zone Authority, Appropriating Funds Therefor, and for Other Purposes”;

(7) Section 4(c) of Republic Act No. 7922, entitled: “An Act Establishing a Special Economic Zone and Free Port in the Municipality of Santa Ana and the Neighboring Islands in the Municipality of Aparri, Province of Cagayan, Providing Funds Therefor, and for Other Purposes”;

(8) Section 6 of Republic Act No. 9728, entitled: “An Act Converting the Bataan Economic Zone Located in the Municipality of Mariveles, Province of Bataas, into the Freeport Area of Bataan (FAB), Creating for this Purpose the Authority of the Freeport Area of Bataan (AFAB), Appropriating Funds Therefor and for Other Purposes”;

(9) Sections 6(k), 14(e),, 39, 76, 85(c) and 86(b) of Republic Act No. 9593, entitled: “An Act Declaring a National Policy for Tourism as an Engine of Investment, Employment, Growth and National Development, and Strengthening the Department of Tourism and its Attached Agencies to Effectively and Efficiently Implement That Policy, and Appropriating Funds Therefor”;

(10) Section 8 of Presidential Decree 588, entitled: “Creating and Establishing the PHIVIDEC Industrial Authority and Making it a Subsidiary Agency of the Philippine Veterans Investment Development Corporation, Defining its Powers, Functions and Responsibilities, and for Other Purposes:, as amended by Presidential Decree No. 1491; and

(11) Section 1(1.1) of Executive Order No. 97-A, series of 1993, entitled: “further Clarifying the tax and Duty-Free Privilege Within the Subic Special Economic and Free Port Zone”.

(c) To expand the powers and functions of the Fiscal Incentives Review Board, the provisions of the following laws that are inconsistent with this Act are hereby amended:

(1) Section 13 of Republic Act No. 7903, entitled: “An Act Creating a Special Economic Zone and Free Port in City of Zamboanga Creating for This Purpose the Zamboanga City Special Economic Zone Authority, Appropriating Funds Therefor, and for Other Purposes”;

(2) Section 10 of Republic Act No. 7922, entitled: “An Act Establishing a Special Economic Zone and Free Port in the Municipality of Santa Ana and the Neighboring Islands in the Municipality of Aparri, Province of Cagayan, Providing Funds Therefor, and for Other Purposes”;

(3) Section 17 of Republic Act No, 7227, entitled: “An Act Accelerating the Conversion of Military Reservation into Other Productive uses, Creating the Bases Conversion and Development Authority for this Purpose, Providing Funds Therefor and for Other Purposes”;

(4) Section 20 of Republic Act No. 9490, entitled: An Act Establishing the Aurora Special Economic Zone in the Province of Aurora, Creating for the Purpose the Aurora Special Economic Zone Authority, Appropriating Funds There for and for Other Purposes”; and

(5) Section 22 of Republic Act No. 9728, entitled: “An Act Converting the Bataan Economic Zone Located in the Municipality of Mariveles, Province of Bataas, into the Freeport Area of Bataan (FAB), Creating for this Purpose the Authority of the Freeport Area of Bataan (AFAB), Appropriating Funds Therefor and for Other Purposes”.

(d) The provisions of the following laws on the Investment Priorities Plan, including all other laws, decrees, executive orders, rules and regulations, or parts thereof, which provide for the mandatory inclusion in the Investment Priorities Plan that are inconsistent with the provisions of this Act are hereby amended:

(1) Sections 4(d) and 13(i) of Republic Act No. 9728, entitled: “An Act Converting the Bataan Economic Zone Located in the Municipality of Mariveles, Province of Bataan, into the Freeport Area of Bataan (FAB), Creating for this Purpose the Authority of the Freeport Area of Bataan (AFAB), Appropriating Funds Therefor and for Other Purposes”, as amended by Republic Act No. 11458;

(2) Section 12(f) of Republic Act No. 9490, as amended, entitled: “An Act Establishing the Aurora Special Economic Zone in the Province of Aurora, Creating for the Purpose the Aurora Special Economic Zone Authority,v Appropriating Funds Therefor and for Other Purpose”;

(3) Section 6(f) of Republic Act No. 7922, entitled: “An Act Establishing a Special Economic Zone And Free Port in the Municipality of Santa Ana and the Neighboring Islands in the Municipality of Aparri, Province of Cagayan, Providing Funds Therefor, and for Other Purposes”;

(4) Section 21 of Republic Act No. 7916, as amended, entitled: “An Act Providing for Legal Framework and Mechanisms for the Creation, operation, Administration, and Coordination of Special Economic Zones in the Philippines, Creating for this Purpose, the Philippine Economic Zone Authority (PEZA), and for Other Purposes”;

(5) Section 5 of Executive Order No. 80, series of 1993 entitled: “Authorizing the Establishment of the Clark Development Corporation as the Implementing Arm of the Bases Conversion and Development Authority for the Clark Special Economic Zone, and Directing All Heads of Departments, Bureaus, Offices, Agencies and Instrumentalities of Government to Support the Program”;

(6) Section 4(b) and 13(b)(7) of Republic Act No. 7227, entitled: “An Act Accelerating the Conversion of Military Reservations into Other Productive uses, Creating the Bases Conversion and Development Authority for this Purpose, Providing Funds Therefor and for Other Purposes”; and

(7) Section 1(F) of Executive Order No, 458, series of 1991, entitled: Devolving the Powers and Functions of the Board of Investments Over Investments Within the Autonomous Region in Muslim Mindanao to the Autonomous Regional Government and for Other Purposes".

Section 20. Appropriation

The National Tax Research Center, as the secretariat of the Fiscal Incentives Review Board, shall be provided with an initial appropriation of 100m pesos. This will be drawn from the available funds from the National Treasury not otherwise appropriated.

Appropriations for the succeeding years shall be included in the annual General Appropriations Act.