Foreign Fishing Revenue Distribution Act (RPPL 88-47 of 2012).

This Act carries into effect the requirement laid down in Article XII Section 6(c) of the Constitution that revenue derived from the licensing of foreign fishing vessels to fish for highly migratory fish within the waters of the Republic shall be allocated to the national and state governments equitably. The Act sets out the manner of allocation: 15% of the revenue shall go to the national government; 55% shall be equally divided among the states; 30% shall be divided among the states according to the population of each state as stated in the most recent national government census. In each yearly national government fiscal budget, the revenues derived from foreign fishing agreements shall be authorized and appropriated in accordance with this Act.