Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The Calabanga National School of Arts and Trades in the Municipality of Calabanga, Province of Camarines Sur, is hereby converted into a polytechnic college to be known as the Calabanga Polytechnic College.

SEC. 2. The Calabanga Polytechnic College in addition to its secondary trade and two-year technical education shall offer undergraduate courses in industrial education and technology, arts and sciences, three-year technician course in trade, agriculture and fishery, short-term occupational courses as may be necessary to meet the regional and national needs for trained manpower.

SEC. 3. The College shall be under the administration and supervision of the chairperson of the Commission on Higher Education.

SEC. 4. All personnel, records and assets as well as liabilities of the Calabanga National School of Arts and Trades are hereby transferred to and absorbed by the Calabanga Polytechnic College.

SEC. 5. The amount necessary for the implementation of this Act shall be charged against the current year's appropriations of the Calabanga National School of Arts and Trades. Thereafter, such sums as may be necessary for its operation and maintenance shall be included in the annual General Appropriations Act.

Fees and charges, including government subsidies and other income generated by the College shall constitute special trust funds and shall be deposited in any authorized government depository bank, and all interests that shall accrue therefrom shall form part of the same funds for the use of the College.

The income generated by the College may, at their discretion, be disbursed for the professional growth and development, health, welfare and other similar benefits of the faculty members and personnel, for extension and student welfare expenses so that the flexibility on use of income shall be focused on faculty, personnel improvement and student welfare activities, and for expenses necessary for the attainment of its purposes under this Act.

SEC. 6. This Act shall take effect upon its approval.

Approved,

(Sgd.) EDGARDO J. ANGARA	(Sgd.) JOSE DE VENECIA, JR.
President of the Senate	Speaker of the House of Representatives

This Act which originated in the House of Representatives was finally passed by the House of Representatives and the Senate on February 7, 1995 and February 2,1995, respectively.

(Sgd.) EDGARDO E. TUMANGAN	(Sgd.) CAMILO L. SABIO
Secretary of the Senate	Secretary General House of Representatives

Approved: March 29, 1995