Republic Act No. 4114

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

The first paragraph of Section fifteen, Article eight of Republic Act Numbered Eleven hundred and thirty-five, as amended by Republic Act Numbered Twenty-two hundred and thirty-three, is hereby further amended to read as follows:

"Sec. 15. Capitalization. -To carry out the purpose of this Act, there is created a special fund to be known as the "Tobacco Industry Promotion Fund" which shall be taken from the taxes derived from the tobacco industry to be made available as follows: ten million pesos, which is hereby appropriated for the fiscal year nineteen hundred sixty four and nineteen hundred sixty-five, and, thereafter, an annual appropriation of ten million pesos is authorized for a period of five years, which shall be released not later than the end of the third quarter of every fiscal year. This fund will be apportioned in the following manner: fifteen per cent will be spent for operating expenses; seventy-five per cent will be used for native tobacco cigar fillers trading; and ten per cent for researches to improve the tobacco industry in all its phases."

Section 2

This Act shall take effect upon its approval.

Approved: June 20, 1964.