Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR A THREE (3)-YEAR DEBT MORATORIUM FOR ALL COMMERCIAL LOANS OF SMALL AND MEDIUM ENTERPRISES THAT ARE NEARING FORECLOSURE AND FOR OTHER PURPOSES
Date filed
August 3, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 2006, 12th Congress of the Republic | |
| FULL TITLE : AN ACT PROVIDING FOR A THREE (3)-YEAR DEBT MORATORIUM FOR ALL COMMERCIAL LOANS OF SMALL AND MEDIUM ENTERPRISES THAT ARE NEARING FORECLOSURE AND FOR OTHER PURPOSES | |
| ABSTRACT : Rationale: This measure would allow small and medium-scale enterprises some breathing space for them to survive the crisis our country is facing. The three-year debt moratorium is expected to abate the burden of these enterprises in order not to close shop and further aggravate the already alarming rate of unemployment. They will not be forced to pay their monthly amortization for a period of three years from the effectivity of this Act. | |
| PRINCIPAL AUTHOR/S : GUNIGUNDO, MAGTANGGOL I T. | |
| DATE FILED : 2001-08-03 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Nograles (013 ) | 2. Espino (022 ) |
| 3. Zamora (022 ) | 4. Soon-ruiz (066 ) |
| 5. Syjuco (041 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-08-13 |
Abstract
Rationale: This measure would allow small and medium-scale enterprises some breathing space for them to survive the crisis our country is facing. The three-year debt moratorium is expected to abate the burden of these enterprises in order not to close shop and further aggravate the already alarming rate of unemployment. They will not be forced to pay their monthly amortization for a period of three years from the effectivity of this Act.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.