Bill Type
Congress Name
Long Title
AN ACT AMENDING PRESIDENTIAL DECREE NO. 717, ENTITLED `PROVIDING AN AGRARIAN REFORM CREDIT AND FINANCING SYSTEM FOR AGRARIAN REFORM BENEFICIARIES THROUGH BANKING INSTITUTIONS'
Date filed
August 20, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 2533, 12th Congress of the Republic |
| FULL TITLE : AN ACT AMENDING PRESIDENTIAL DECREE NO. 717, ENTITLED `PROVIDING AN AGRARIAN REFORM CREDIT AND FINANCING SYSTEM FOR AGRARIAN REFORM BENEFICIARIES THROUGH BANKING INSTITUTIONS' |
| ABSTRACT : The bill seeks to correct the decline in agricultural production loans by REDIRECTING the use of the Agri-Agra Fund to favor the small farmers. The proposed amendment to PD No. 717 reads: TO INVEST OR DEPOSIT THEIR LOANABLE FUNDS FOR AGRICULTURAL AND AGRARIAN REFORM CREDIT WITH GOVERNMENT FINANCIAL INSTITUTIONS AND RURAL BANKS FOR THE PURPOSE OF RE-LENDING SUCH LOANABLE FUNDS TO FARMERS AND AGRARIAN REFORM BENEFICIARIES. TO PROMOTE A FUNCTIONAL TIE-UP BETWEEN COMMERCIAL BANKS AND RURAL BANKS,ALL LOANS OF RURAL BANKS REDISCOUNTED WITH COMMERCIAL BANKS SHALL BE DEEMED AS COMPLIANCE WITH P.D. 717. |
| PRINCIPAL AUTHOR/S : LACSON, JOSE CARLOS V. |
| DATE FILED : 2001-08-20 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Amin (017 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-08-27 |
Abstract
The bill seeks to correct the decline in agricultural production loans by REDIRECTING the use of the Agri-Agra Fund to favor the small farmers. The proposed amendment to PD No. 717 reads: TO INVEST OR DEPOSIT THEIR LOANABLE FUNDS FOR AGRICULTURAL AND AGRARIAN REFORM CREDIT WITH GOVERNMENT FINANCIAL INSTITUTIONS AND RURAL BANKS FOR THE PURPOSE OF RE-LENDING SUCH LOANABLE FUNDS TO FARMERS AND AGRARIAN REFORM BENEFICIARIES. TO PROMOTE A FUNCTIONAL TIE-UP BETWEEN COMMERCIAL BANKS AND RURAL BANKS,ALL LOANS OF RURAL BANKS REDISCOUNTED WITH COMMERCIAL BANKS SHALL BE DEEMED AS COMPLIANCE WITH P.D. 717.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.