GMA signs incentives act

President Gloria Macapagal-Arroyo has signed into law Republic Act No. 9064, granting huge cash incentives to future medalists in various international competitions such as the Olympics, the World Championships, the Asian Games and the Southeast Asian Games.

The law, also known as the "National Athletes, Coaches and Trainers Benefits and Incentives Act of 2001" or "Sports Benefits and Incentives Act" and which the Chief Executive signed April 5, will give the first Filipino Olympic gold medalist a P5 million bonanza.

The new law will also give cash awards of P2.5 million each to gold medalist in the World Championships, P1 million to Asian Games gold medalist and P100,000 to SEA Games winner.

Silver medalists in the Olympics, World Championships, Asian Games and the SEAG will be awarded P2 million, P1 million, P500,000 and P50,000 each, respectively, while bronze medalists in the four meets will be granted P1 million, P500,000, P100,000 and P10,000, respectively.

Under RA 9064, past medalists also stand to receive cash incentives although they will receive only half of the amount as stipulated in the law. These include Olympic boxing silver medalists Mansueto "Onyok" Velasco, who bagged an Olympic silver in the 1996 Atlanta Games, and Anthony Villanueva, who won in the 1964 Tokyo Games.

However, past medalists in the SEA Games are not included in the scheme.

Coaches, trainers and instructors are also entitled to cash awards if they have rendered, even in a private capacity, services to the winning athlete or teams for at least a year prior to the competition.

The said amount will come from the net cash income of the Philippine Amusement and Gaming Corporation which will be remitted directly as a special account to the National Sports Development Fund of the Philippine Sports Commission.

This is in addition to the regular income share of the PSC pursuant to Republic Act 6847, the law which created the PSC.