Bongbong Marcos signs 'Automatic Income Classification of LGUs Act' | Inquirer News

Bongbong Marcos signs ‘Automatic Income Classification of LGUs Act’

By: - Reporter / @JMangaluzINQ
/ 06:45 AM October 27, 2023

Bongbong Marcos signs the "Automatic Income Classification of LGUs Act"

FILE PHOTO: President Ferdinand Marcos Jr. Photo from RTV Malacañang.

MANILA, Philippines — President Ferdinand Marcos Jr. signed the “Automatic Income Classification of Local Government Units Act,” Malacañang said Friday.

The new law, officially known as Republic Act No. 11964, divides municipalities into five classes based on annual average income.


“The State recognizes the need to determine the financial capability and fiscal position of local government units,” it states.


READ: Automatic LGU income classification bill makes it to Senate floor

The Palace said Marcos signed the law on Thursday, October 26, but only released to the media on Friday.

READ: Senate bill on automatic income classification of LGUs passes final reading

The classifications of municipality based on annual average income are as follows:

  • First Class: P200,000,000
  • Second Class: P160,000,000 to P200,000,00
  • Third Class:  P130,000,000 to P160,000,00
  • Fourth Class: P90,000,000 to P130,000,000
  • Fifth Class: Less than P90,000,000.

“The first general income reclassification shall be made within six months after the effectivity of the law and every three years thereafter,” Malacañang said in a statement.

READ: Quezon City is PH’s richest LGU for three consecutive years

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TAGS: Bongbong Marcos, law, LGUs

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