Section 15
SEC. 15. Insert a new Section 21-A which shall read: “SEC. 21-A. Gifts and donations of real and personal properties of all kinds to the Network shall be exempt from donor’s tax and the same shall be considered as an allowable deduction from the gross income of the donor in accordance with the provisions of the National Internal Revenue Code of 1997, as amended: Provided, That the allowable deduction shall be equivalent to one hundred percent (100%) of the value of such donation: Provided, further, That the said donation shall be used exclusively for the production of educational, cultural and historical films and documentaries. “Valuation of assistance, other than the money, shall be based on the acquisition cost of the property. Such valuation shall take into consideration the depreciated value of property in case said property has been used.”