Section 8Sec./Art. 8

Cash Incentives for Athletes. National athletes and other athletes who are not officially or currently members of the national training pool but who have otherwise represented the country in international sports competitions, who win gold, silver and bronze medals in international sports competitions shall be entitled to cash incentives in the following amounts:

a. Individual Events

1. For Gold Medalists:

i. Ten million pesos (P10,000,000.00) and an Olympic Gold Medal of Valor to be issued by the PSC for Summer Olympic and Winter Olympic Games;

ii. Five million pesos (P5,000,000.00) and an Olympic Gold Medal of Valor to be issued by the PSC for Youth Olympic Games and Paralympic Games;

iii. Two million pesos (P2,000,000.00) for Asian Games, Asian Winter Games, and Asian Indoor and Martial Arts Games;

iv. One million pesos (PI,000,000.00) for Asian Para Games and World-level competitions held at least every two years with at least forty-five (45) countries participating;

v. Five hundred thousand pesos (P500,000.00) for Asian Beach Games, and Asian-level competitions held at least every two (2) years with at least twenty-five (25) countries participating, and qualifying competitions for World-level and Asian-level games;

vi. Three hundred thousand pesos (P300,000.00) for SEA Games; and

vii. One hundred fifty thousandspesos (P150,000.00) for ASEAN Para Games.

2. For Silver Medalists:

i. Five million pesos (P5,000,000.00) for Summer Olympic and Winter Olympic Games;

ii. Two million five hundred thousand pesos (P2,500,000.00) for Youth Olympic Games and Paralympic Games;

iii. One million pesos (PI,000,000.00) for Asian Games, Asian Winter Games, and Asian Indoor and Martial Arts Games;

iv. Five hundred thousand pesos (P500,000.00) for Asian Para Games and World-level competitions held at least every two (2) years with at least forty-five (45) countries participating;

v. Two hundred fifty thousand pesos (P250,000.00) for Asian Beach Games, and Asian-level competitions held at least every two (2) years with at least twenty-five (25) countries participating, and qualifying competitions for World-level and Asian-level games;

vi. One hundred fifty thousand pesos (P150,000.00) for SEA Games; and

vii. Seventy-five thousand pesos (P75,000.00) for ASEAN Para Games.

3. For Bronze Medalists:

i. Two million pesos (P2,000,000.00) for Summer Olympic and Winter Olympic Games;

ii. One million pesos (P1,000,000.00) for Youth Olympic Games and Paralympic Games;

iii. Four hundred thousand pesos (P400,000.00) for Asian Games, Asian Winter Games, and Asian Indoor and Martial Arts Games;

iv. Two hundred thousand pesos (P200,000.00) for Asian Para Games and World-level competitions held at least every two (2) years with at least forty-five (45) countries participating;

v. One hundred thousand pesos (P100,000.00) for Asian Beach Games, and Asian-level competitions held at least every two (2) years with at least twenty-five (25) countries participating and qualifying competitions for World-level and Asian-level games;

vi. Sixty thousand pesos (P60,000.00) for SEA Games;

and

vii. Thirty thousand pesos (P30,000.00) for ASEAN Para Games.

b. Team Events

For competitions with less than five (5) participants per team, the team shall receive the same cash incentives for individual medal winners as herein provided, to be divided equally among the team members actually present during the competition.

For competitions with five (5) or more participants per team, each team member shall receive twenty-five percent (25%) of the cash incentives for individual medal winners as herein provided.

Provided, That for demonstration and exhibition sports events in the Olympics, the winning athlete shall receive twenty-five percent (25%) of the cash incentives for Olympic medalists as herein provided.

Provided, further, That national athletes and other athletes who surpass Philippine record or ranking in any measurable international sports competition shall be given cash incentives, the amount of which may be determined by the PSC.

Provided, finally, That all cash incentives herein stated may be adjusted by the PSC, upon consultation with the Philippine Amusement and Gaming Corporation (PAGCOR), based on studies, consultations and public hearings with relevant agencies to reflect the economic needs of the athletes, not later than tjrree (3) years after the effectivity of this Act and every three (3) years thereafter.