Section 16Sec./Art. 16

Integrated Protected Areas Fund. There is hereby established a trust fund to be known as Integrated Protected Areas (IPAS) Fund for purposes of financing projects of the System. The IPAS may solicit and receive donations, endowments, and grants in the form of contributions, and such endowment shall be exempted from income or gift taxes and all other taxes, charges or fees imposed by the Government or any political subdivision or instrumentality thereof.

All incomes generated from the operation of the System or management of wild flora and fauna shall accrue to the Fund and may be utilized directly by the DENR for the above purpose. These incomes shall be derived from:

a. Taxes from the permitted sale and export of flora and fauna and other resources from protected areas;

b. Proceeds from lease of multiple use areas;

c. Contributions from industries and facilities directly benefiting from the protected area; and

d. Such other fees and incomes derived from the operation of the protected area. Disbursements from the Funds shall be made solely for the protection, maintenance, administration, and management of the System, and duly approved projects endorsed by the PAMBs, in the amounts authorized by the DENR.