(Eagle News) — President Bongbong Marcos has signed into law Republic Act No. 11964, which institutionalizes the automatic income classification of local government units. Under the law, LGUs shall be classified into five classes, according to their income ranges and based on the average annual regular income for three fiscal years preceding a general income reclassification. Those classified as First Class are earning an annual average income of P200,000,000. Second Class LGUs, meanwhile, have an […]