PRESIDENTIAL DECREE NO. 1976

: The title is 'Further Amending Republic Act Numbered Eleven Hundred Thirty-Five entitled, "An Act Establishing the Philippine Tobacco Administration, Defining its Objectives, Powers and Functions, and for Other Purposes," as amended.'
: The main purpose is to revitalize the tobacco industry by further improving its financing program through the Philippine Tobacco Administration.
: It further amends Section 15 of Republic Act No. 1135.
: A special fund named the Cigar Tobacco Industry Promotion and Market Stabilization Fund is created.
: The fund consists of an amount equivalent to two and one-fourth percent (2.25%) of the annual gross collection from specific taxes on locally manufactured aromatic cigarettes (Virginia-type) as mentioned in Section 3 of Republic Act No. 5447.
: It is taken from the allocation for the Philippine Virginia Tobacco Administration Fund under RA No. 5447.
: Section 2 repeals or modifies all provisions of existing laws, orders, rules, and regulations that are inconsistent or incompatible with this decree.
: It took effect immediately upon its issuance on June 10, 1985.