Legislative History
| House Bill/Resolution NO. HB12057 |
| FULL TITLE : AN ACT EXEMPTING RURAL ELECTRIC COOPERATIVES FROM THE COVERAGE OF THE REAL PROPERTY TAX, AMENDING FOR THE PURPOSE SECTION TWO HUNDRED AND THIRTY-FOUR OF REPUBLIC ACT NUMBERED SEVENTY-ONE HUNDRED AND SIXTY, OTHERWISE KNOWN AS THE `LOCAL GOVERNMENT CODE OF 1991,' AND FOR OTHER PURPOSES |
| ABSTRACT : Rationale: While it may be argued that the Rural Electric Cooperatives (RECs) may register with the Cooperative Development authority (CDA) to be able to avail of exemptions from the coverage of real property taxes, the hundreds of RECs have not done so for a myriad of reasons. Hence, the real property taxes assessed and levied by the LGUs upon the RECs. > To eliminate this aberration, the attached measure seeks to amend the Local Government Code by exempting the RECs from the coverage of realproperty taxes. True, the LGUs will be deprived of income, but this deprivation will in the long term spare the consumers from paying higher power rates and redound to the benefit of everyone concerned. |
| PRINCIPAL AUTHOR/S : LOCSIN, MA. VICTORIA L. |
| DATE FILED : 2000-08-22 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2000-08-28 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON LOCAL GOVERNMENT, COOPERATIVES DEVELOPMENT (SPECIAL CTTE.) |
Abstract
Rationale: While it may be argued that the Rural Electric Cooperatives (RECs) may register with the Cooperative Development authority (CDA) to be able to avail of exemptions from the coverage of real property taxes, the hundreds of RECs have not done so for a myriad of reasons. Hence, the real property taxes assessed and levied by the LGUs upon the RECs. > To eliminate this aberration, the attached measure seeks to amend the Local Government Code by exempting the RECs from the coverage of realproperty taxes. True, the LGUs will be deprived of income, but this deprivation will in the long term spare the consumers from paying higher power rates and redound to the benefit of everyone concerned.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.