Wednesday, January 30, 2008
Davao City To Lose P194M In IRA With HB 24 Approval
Davao City is set to lose P194 million in its Internal Revenue Allotment with the approval of House Bill 24.
HB 24, which was authored by Representative Ann Hofer of Zamboanga Sibugay, will result to the creation of 28 capital, towns into new cities even if they do not meet the P100 million locally generated income every year as provided under the Local Government Code.
Davao City had an IRA of P1.792 billion in 2007. This would have been increased to P2.055 billion in 2008.
"With the creation of new cities, the increase in the city's IRA would only amount to P69 million," councilor Peter Lavina said Tuesday.
He said this amount would have been enough to build the Sports Complex or the City College.
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