Section 12Sec./Art. 12

Integrated Protected Areas Fund (IPAF). - There is hereby established a trust fund to be known as the Integrated Protected Areas Fund (IPAF) for purposes of financing projects of the system. All incomes generated from the operation of the system or management of wild flora and fauna in the PA shall accrue to the fund. These income shall be derived from fees from permitted sale and export of flora and fauna and other resources from the PA, proceeds from lease of multiple-use areas, contributions from industries and facilities directly benefiting from the PA; and such other fees and incomes derived from the operation of the PA.

The fund may be augmented by grants, donations, endowment from various sources, domestic or foreign, for purposes related to their functions: Provided, That the fund shall be deposited as a special account in the National Treasury and disbursements therefrom shall be made solely for the protection, maintenance, administration and management of the system, and duly approved projects endorsed by the PAMB in accordance with existing accounting and budgeting rules and regulations: Provided, further, That no amount shall be disbursed for the operating expenses of the Department and other concerned agencies.

All donations, grants, endowments shall be exempted from the donor's tax and all other taxes, charges and fees imposed by the government.