Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR A NEW QUEDAN SYSTEM IN THE MARKETING OF PALAY AND APPROPRIATING FUNDS THEREFOR
Date filed
July 10, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB01009 |
| FULL TITLE : AN ACT PROVIDING FOR A NEW QUEDAN SYSTEM IN THE MARKETING OF PALAY AND APPROPRIATING FUNDS THEREFOR |
| ABSTRACT : This bill mandates the National Food Authority (NFA) to determine the floor price for palay to assure the farmers or producers a fair return on their investment and to procure and buy from farmers their palay crops subject to the following payment terms: (a)seventy-five percent in cash, and (b) a quedan for the remaining balance which shall be paid within sixty days from the time the palay is delivered to its warehouses or within such time as may be agreed upon by the NFA and the farmers/producers. |
| PRINCIPAL AUTHOR/S : GARIN, JANETTE L. |
| DATE FILED : 2007-07-10 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON AGRICULTURE & FOOD ON 2007-08-01 |
Abstract
This bill mandates the National Food Authority (NFA) to determine the floor price for palay to assure the farmers or producers a fair return on their investment and to procure and buy from farmers their palay crops subject to the following payment terms: (a)seventy-five percent in cash, and (b) a quedan for the remaining balance which shall be paid within sixty days from the time the palay is delivered to its warehouses or within such time as may be agreed upon by the NFA and the farmers/producers.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.