Section 17Sec./Art. 17

The TRNP Trust Fund. - There is hereby established a trust fund to be known as the TRNP Trust Fund for purposes of financing projects of the TRNP. All income generated from the operation of the TRNP or management of wild flora and fauna therein shall accrue to said fund. This income shall be derived from visitor/tourist fees, fees from permitted sale and export of flora and fauna and other resources from the TRNP, proceeds from registration and lease of multiple-use areas, including tourism concessions, contributions from industries and facilities directly benefiting from the TRNP; and such other fees and income derived from the operation of the TRNP.

The TRNP Trust Fund may be augmented by grants, donations, endowment from various sources, domestic or foreign, for purposes related to their functions: Provided, That the entire amount shall be set aside and retained by the TPAMB of the TRNP, which shall appropriate the same exclusively for the management and operation of the TRNP. The TPAMB shall have the sole power to decide on the use of its funds from whatever source.

Donations, grants and endowments to the TRNP shall be exempt from the donor's tax and the same shall be considered as allowable deductions from the gross income in the computation of the income tax of the donor.