Period of Automatic Income Reclassification.
Section 6
SEC. 6. Period of Automatic Income Reclassification. - (a) The first general income reclassification shall be made within six (6) months after the effectivity of this Act, and every three (3) years thereafter. (b) The DOF shall, within sixty (60) days from the regular income reclassification, issue the appropriate department order containing the schedule of income classification which shall serve as certification of the income classification of LGUs. The schedule of income classification shall be automatically updated by the Bureau of Local Government Finance (BLGF) of the DOF every three (3) years: Provided, however, That the non-issuance of said department orders in the succeeding regular classification within the said period shall not suspend the effects of the automatic income reclassification. (c) No readjustment of classification shall be made more than once in three (3) consecutive calendar years after the first general reclassification provided herein.