WHEREAS CLAUSES

WHEREAS, there is a need to establish clear guidelines for investment incentives in the province;

WHEREAS, the Sangguniang Panlalawigan has the authority to enact ordinances for the general welfare of the constituents;

WHEREAS, proper tax incentives and benefits to attract investors is essential for the development and progress of the province;

ENACTING CLAUSE

NOW, THEREFORE, BE IT ORDAINED by the Sangguniang Panlalawigan in session assembled:

PROVISIONS

SECTION 1. Title. — This Ordinance shall be known as the "INVESTMENT INCENTIVES ORDINANCE".

SECTION 2. Purpose. — This Ordinance aims to provide for the tax incentives and benefits to attract investors within the territorial jurisdiction of the province.

SECTION 3. Scope. — This Ordinance shall apply to all persons, establishments, and entities within the province.

SECTION 4. Definition of Terms. — For purposes of this Ordinance, the following terms shall mean:

• LGU - refers to the Local Government Unit;
• Sanggunian - refers to the Sangguniang Panlalawigan;
• Implementing Agency - refers to the designated office responsible for implementation.

SECTION 5. General Provisions. — The Local Government shall ensure the proper implementation of this Ordinance through its designated offices and personnel.

SECTION 6. Penalties. — Any violation of this Ordinance shall be punishable by fine and/or imprisonment as provided by law.

SECTION 7. Separability Clause. — If any provision of this Ordinance is declared invalid, the other provisions not affected thereby shall remain valid and subsisting.

SECTION 8. Repealing Clause. — All ordinances, resolutions, or parts thereof inconsistent with this Ordinance are hereby repealed or modified accordingly.

SECTION 9. Effectivity. — This Ordinance shall take effect fifteen (15) days after its complete publication in a newspaper of general circulation.

ENACTED.