Republic Act No. 10629 providing for financial aspects of the Integrated Protected Areas Fund (IPAF) of Republic Act No. 7586.

This Republic Act provides for the retention by the Protected Area Management Board of 75% of the revenues accruing to the Integrated Protected Areas Fund (IPAF), established by Section 16 of Republic Act No. 7586, otherwise known as the “National Integrated Protected Areas System Act of 1992″. Amended Section establishes a trust fund to be known as 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 shall accrue to the Fund subject to the retention by the Board of each protected area, of seventy-five percent (75%) of all the revenue raised therefrom. These incomes shall be derived from: a) taxes from the permitted sale and export of flora and fauna and other resources from protected areas; b) proceeds from lease of multiple-use areas; c) contributions from industries and facilities directly benefiting from the protected area; and d) such other fees and incomes derived from the operation of the protected area.