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Senate Bill No. 1491 – INCOME REQUIREMENTS FOR THE CONVERSION OF A MUNICIPALITY INTO A COMPONENT CITY

AN ACT EXEMPTING FROM THE POPULATION AND THE LAND AREA REQUIREMENTS THE CONVERSION OF A MUNICIPALITY INTO A COMPONENT CITY IF IT HAS A LOCALLY GENERATED AVERAGE ANNUAL INCOME OF AT LEAST FIVE HUNDRED MILLION PESOS (500,000,000.00), AMENDING FOR THE PURPOSE SECTION 450 OF REPUBLIC ACT NO. 7160, AS AMENDED, OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991