Question & AnswerQ&A (EXECUTIVE ORDER NO. 309)
The main purpose is to prescribe guidelines, rules, and regulations for the distribution of proceeds from leases, joint ventures, and transactions other than sale involving portions of Metro Manila military camps under Republic Act No. 7227, as amended by Republic Act No. 7917.
The proceeds are to be distributed equally between the Bases Conversion Development Authority (BCDA) and the Armed Forces of the Philippines (AFP).
It covers proceeds from all leases, joint ventures, and transactions other than sale involving portions of Metro Manila military camps, including those executed prior to the order.
Distribution is based on the net proceeds of the transaction after deducting directly incurred expenses attributable to the transaction, as jointly determined by BCDA and the Department of National Defense.
Direct expenses are those directly attributable to the transaction which would not have been incurred but for the decision to enter into such transaction.
The BCDA's share is considered corporate income and its utilization is determined by the Board of Directors of BCDA.
The AFP's share shall be utilized for the AFP Modernization Program as mandated under Republic Act No. 7898. Proceeds received after its termination can be used to satisfy multi-year obligations or other modernization projects approved by the AFP and the Secretary of National Defense.
Within two weeks after receiving actual payment, BCDA shall remit the AFP’s share directly to the AFP Modernization Act Trust Fund (Fund 172) at the Bureau of the Treasury.
Fort Bonifacio and Villamor Air Base are mentioned as covered military camps.
The BCDA is under the direct control and supervision of the Office of the President for purposes of policy direction and coordination.