Marcos signs law on automatic income classification of LGUs

MANILA, Philippines – President Ferdinand Marcos Jr. on Thursday, October 26, signed into law Republic Act No. 11964 or the Automatic Income Classification of Local Government Units Act, which seeks to promote local autonomy and local development.

It could also serve as the basis for the creation of the new LGU, specifying the number of elective members in the Sangguniang Panlalawigan and the Sangguniang Bayan. Following the issuance of the table of income classification by the Finance Secretary, the first income reclassification will be effective on January 1st of the immediately succeeding year.

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