AN ACT APPROPRIATING THE SUM OF TWO BILLION FOUR HUNDRED FIFTY MILLION TWO HUNDRED SIXTY-EIGHT THOUSAND PESOS (P2,450,268,000.00) TO FUND THE HOLDING OF THE NATIONAL AND LOCAL ELECTIONS IN 2001 AND FOR OTHER PURPOSES.
Section 1. Appropriations. – The sum of Two billion four hundred fifty million two hundred sixty-eight thousand pesos (P2,450,268,000.00) is hereby appropriated to fund the holding of the national and local elections in 2001, of which One billion three hundred forty million two hundred eighty-seven thousand pesos (P1,340,287,000.00) shall be for personal services and One billion one hundred nine million nine hundred eighty-one thousand pesos (P1,109,981,000.00) for maintenance and other operating expenses.
Sec. 2. Release and Use of Funds. – The amount shall be released to the Commission on Elections (COMELEC) and shall be used for the purpose intended in accordance with the existing accounting and auditing rules and regulations.
Sec. 3. Effectivity. – This Act shall take effect beginning January 1, 2001.
Approved: February 21, 2001.