Section 12April 5, 2001, Sec./Art. 12

Funding. - The amount necessary for the implementation of the cash incentives and retirement benefits program of this Act shall be taken from the net cash income of the Philippine Amusement and Gaming Corporation (PAGCOR), to be remitted directly as a special account to the National Sports Development Fund (NSDF) of the PSC. This is in addition to the regular income share of the PSC pursuant to Republic Act No. 6847.

A separate fund equivalent to not less than sixty percent (60%) of existing NSDF shall be automatically set aside for the training and preparation of national athletes covered by this Act.

Not less than five percent (5%) of the NSDF shall be set aside for the selection of individual athletes at the elementary and high school levels in track and field, swimming, badminton, pingpong and similar individual sports events where the Philippines can develop into world class competitors. Said fund shall be administered by the Department of Education, Culture and Sports (DECS).