42 Regional Governor in cases involving the share of the Regional Government and by the proper local government executive in cases involving the share of local government. SEC. 10. Treasury Bills, Notes and Other Debt Papers. – The Regional Government may issue treasury bills, bonds, promissory notes, and other debt papers or documents pursuant to law enacted by the Regional Assembly. SEC. 11. Economic Agreements. – Subject to the provisions of the Constitution, the Regional Government shall evolve a system of economic agreements and trade compacts to generate block grants for regional investments and improvements of regional economic structures which shall be authorized by law enacted by the Regional Assembly. Pursuant to specific recommendations of the Regional Economic and Development Planning Board, the Regional Government may assist local government units in their requirements for counterpart funds for foreign-assisted projects. SEC. 12. Donations or Grants; Tax Deductible. – The Regional Government may accept donations or grants for the development and welfare of the people in the autonomous region. Such donations or grants that are used exclusively to finance projects for education, health, youth and culture, and economic development, may be deducted in full from the taxable income of the donor or grantor. SEC. 13. Regional Tax Exemptions. – The Regional Assembly, by a vote of absolute majority of all its members, may grant exemptions from regional taxes. SEC. 14. Foreign or Domestic Loans. – The Regional Governor may be authorized by the Regional Assembly to contract foreign or domestic loans in accordance with the provisions of the Constitution. The loans so contracted may take effect upon approval by a majority of all the members of the Regional Assembly. SEC. 15. Collection and Sharing of Internal Revenue Taxes. – The share of the central government or national