Section 72Sec./Art. 72

Funding. - The TIEZA shall obtain the funds for its operations from the following:

(a) Fifty percent (50%) of the proceeds from travel tax collections;

(b) A reasonable share from the collections of the Office of Tourism Resource Generation, to be determined by the Department;

(c) Income from projects managed by the TIEZA; and

(d) Subsidies or grants from local and foreign sources that may be received by the TIEZA.

At least five percent (5%) from the travel tax collection which shall accrue to the TIEZA shall be earmarked for the development of historic, cultural, religious and heritage sites and prime tourist destinations. Another five percent (6%) shall be earmarked for the development of ecotourism sites in depressed provinces with strong tourism potentials.