Allocation and Management of Tax Proceeds
- All proceeds from this real property tax shall be deposited into a special private education fund.
- This fund is managed and disbursed by a local private school board established in each municipality or chartered city housing private educational institutions.
Composition and Structure of the Private School Board
- The board is chaired by the municipal or city mayor or their representative.
- Membership includes no more than two representatives from private educational institutional taxpayers.
- No more than two residents of the municipality or chartered city who are alumni of these institutions are included as members.
- If a municipality or city has over fifteen private institutions, each with individual enrolments exceeding five thousand students, board membership expands to up to fourteen members.
- The expanded membership is determined proportionately by the Minister of Education, Culture, and Sports.
Functions and Powers of the Private School Board
- The board adopts its own rules aimed at financing annual programs and projects of institutional taxpayers.
- Funds are allocated, in order of priority, for:
- Scholarships for students and pupils.
- Improvement of instructional facilities, including laboratory space and equipment.
- Acquisition of library books and periodicals.
- Community extension services.
Effectivity
- The amendment takes effect immediately upon approval.