H. No. 1911 / 44 OG No. 11, 4219 (November, 1948)
SEC. 3. It shall be the duty of the President to report to the Congress within ten days after the beginning of each regular session the amounts paid by the Central Bank into the National Treasury, in accordance with the provisions of this Act, as well as the amounts set aside by him for each and all of the subjects of appropriation enumerated in the preceding article.
- To cover deficiencies in appropriations made by law for the full payment of duly recognized and approved financial obligations of the Government
- To rehabilitate or construct irrigation projects;
- To cover payments under expropriation proceedings of such private lands as may be acquired by the Government for they new capitol site, to develop such site, and to finance the construction of the capitol and such public buildings as may be approved by the Capitol and Public Buildings Commission;
- For the development of water power and the establishment of industries through the utilization of such power;
- To finance the purchase of agricultural or residential lands for the purpose of subdividing them for resale to actual occupants or tenants;
- For the expansion of existing industries or the establishment of new ones which may be essential to the development of the national economy;
- To finance resettlement projects similar to those now undertaken by the National Land Settlement Administration;
- For advances to the Rehabilitation Finance Corporation in order to increase its available funds to be loaned for purposes of rehabilitation and development; and
- To finance the construction of homes to be sold or rented to laborers and low-salaried employees.