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

SECTION 1. There shall be established, under the supervision of the Commission on Higher Education, a polytechnic institute in the Municipality of Tinambac, Province of Camarines Sur, to be known as the Tinambac Polytechnic Institute, hereinafter referred to as the Institute.

SEC. 2. The Institute, in addition to secondary offerings, shall offer post-secondary programs as well as short-term technical and vocational courses, subject to the policies of the Commission on Higher Education.

SEC. 3. The amount necessary to carry out the provisions of this Act shall be included in the General Appropriations Act of the year following its enactment into law and thereafter. Fees and charges, including government subsidies and other income generated by the Institute shall constitute special trust funds and shall be deposited in any authorized government depository bank, and all interests t*hat shall accrue therefrom shall form part of the same funds for the use of the Institute.

The income generated by the Institute 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. 4. 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