Legislative History
| House Bill/Resolution NO. House Bill No. 192, 12th Congress of the Republic | |
| FULL TITLE : AN ACT ESTABLISHING A PROVIDENT PERSONAL SAVINGS PLAN KNOWN AS THE "PERSONAL EQUITY AND RETIREMENT ACCOUNT"(PERA) | |
| ABSTRACT : The bill provides that contributions made to PERA per taxable year shall be 100% deductible from the taxable income of the contributor, subject to certain conditions. This aims to encourage more people to invest their money in PERA. > Through PERA,Filipinos can prepare for and enjoy their retirement years. They are assured of a financially secure future. The bill will also facilitate an increase in savings because funds deposited to the PERA can be invested in securities including ordinary shares of stock. It will also offer facilities to move funds to high investment levels and take advantage of prevailing market conditions. This means more funds will be available for investments to spur economic growth. | |
| PRINCIPAL AUTHOR/S : DE VENECIA, JOSE JR. C. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Zialcita | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Lacson (003 ) | 2. Villareal (004 ) |
| 3. Albano (004 ) | 4. Uy (004 ) |
| 5. Joaquin (006 ) | 6. Lapus (000 ) |
| 7. Andaya (009 ) | 8. Ramiro (009 ) |
| 9. Singson (009 ) | 10. Sandoval (009 ) |
| 11. Abaya (010 ) | 12. Yapha (010 ) |
| 13. Dumarpa (010 ) | 14. Barinaga (010 ) |
| 15. Del Mar (010 ) | 16. Almario (011 ) |
| 17. Biazon (012 ) | 18. Joson (012 ) |
| 19. Celeste (052 ) | 20. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE ACTION: ctte. ref'l as per Rules Instructio ns on 7/25/2001( civil Service & Prof'l Reg removed);j t. ref;ls | |
| MOTHER BILL: House Bill No. 6001, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON ECONOMIC AFFAIRS ON 2001-07-24 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON WAYS AND MEANS |
Abstract
The bill provides that contributions made to PERA per taxable year shall be 100% deductible from the taxable income of the contributor, subject to certain conditions. This aims to encourage more people to invest their money in PERA. > Through PERA,Filipinos can prepare for and enjoy their retirement years. They are assured of a financially secure future. The bill will also facilitate an increase in savings because funds deposited to the PERA can be invested in securities including ordinary shares of stock. It will also offer facilities to move funds to high investment levels and take advantage of prevailing market conditions. This means more funds will be available for investments to spur economic growth.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.