Section 4
SEC. 4. A new provision is hereby inserted after Section 19 of the same Decree to read as follows: "SECTION 20. The Meralco Foundation, Inc., shall make contributions of funds and/or equipment and facilities and provide managerial, advisory, technological, professional and vocational professorial or instructional skills useful for the establishment, operation and maintenance of the Colleges, and shall solicit and encourage major industries and other entities to make such contributions and provide such support to the colleges; all such contribution made by the Meralco Foundation, Inc., to the Colleges, or contributions by any individual, association, partnership, corporation or any kind of entity to the Colleges and/or to the Meralco Foundation, Inc., which in turn are contributed by the latter for the establishment, operation and maintenance of the Colleges, shall be exempt from all taxes and the money value of such contributions shall be treated as payments of assessments under, and/or compliance with the requirements of, and shall be eligible for the tax and other incentives provided by the Labor Code of the Philippines, as, and as may be, amended, and the rules and regulations pursuant thereto, and shall be in lieu of any taxes, charges and assessments of whatsoever nature and authority now and in the future, for the development of manpower, education, arts and sciences."