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NR # 3447B
6nder the bill, private schools, which shall import laboratory equipment7facilities for the e&clusive use in their school, shall en8oy 9: ta& deduction from the total revenue obligations. 'rivate entities engaged in the manufacture of laboratory equipment needed in public schools and importation of raw materials shall get a +: ta& incentive. 2he measure seeks to provide the construction of laboratory buildings; required laboratory equipment and facilities; continuous development and updating of standards for facilities and strengthen partnership between public and private institutions in promoting science and technology. /n addition to the funds to be provided by the Legislature, the bill shall source funding support from the 9: share from the gross proceeds of travel ta& collections of the national government and from the net income of the 'hilippine <ames and (musement "orporation ('(<"#R$ over and above the franchise ta& and corporate income ta&. 2he !epartment of -cience and 2echnology (!#-2$ through the -cience 4ducation /nstitute (-4/$ in coordination with the regional offices of the !epartment or 4ducation (!ep4d$ and the Regional -cience and 2echnology 2eaching "enters (R-2"s$ are mandated to implement the program. (+9$ lvc