Appropriations and Use of Funds
- An initial appropriation of Five Hundred Thousand Pesos (Php 500,000) is allocated from the National Treasury for HICDA's use.
- This fund is to be made available for fiscal years 1963-1964.
- Up to Two Hundred Thousand Pesos (Php 200,000) annually may be used specifically for road improvement projects:
- Asphalt or concrete paving of portions of the Tarlac-Pangasinan and Pangasinan-Zambales Roads.
- Improvement of the Poblacion-Lucap Road leading to Lucap, Alaminos.
- The same appropriation amount is to be made available annually for the subsequent three years following the initial fiscal period.
- Initial funds may be advanced from any immediately disposable government fund and replenished upon the availability of the appropriation under this Act.
Revenue Generation and Distribution
- Once HICDA derives revenue from improvements, establishments, or services it provides or authorizes:
- 50% of such revenue is allocated for HICDA’s maintenance, conservation, and development work.
- 25% is allocated to the provincial government of Pangasinan.
- 25% is distributed among the municipalities bordering the foreshore area.
- Distribution among municipalities is proportional to the length of their shorelines included in HICDA’s jurisdiction.
Effectivity
- The amendments take effect immediately upon approval of the Act, which was June 18, 1966.