Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR THE INCLUSION OF INDUSTRIAL ESTATES IN THE DEFINITION OF CONDOMINIUM, AMENDING FOR THE PURPOSE THE CONDOMINIUM ACT AND FOR OTHER PURPOSES
Date filed
August 31, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 2778, 12th Congress of the Republic |
| FULL TITLE : AN ACT PROVIDING FOR THE INCLUSION OF INDUSTRIAL ESTATES IN THE DEFINITION OF CONDOMINIUM, AMENDING FOR THE PURPOSE THE CONDOMINIUM ACT AND FOR OTHER PURPOSES |
| ABSTRACT : Rationale: The proposed amendment to INCLUDE the INDUSTRIAL ESTATE in the definition of a CONDOMINIUM will create a significant incentive to Filipino and foreign businessmen to invest more in industrial estates. It will provide more flexibility inplanning for the optional utilization of space consistent with the requirements of their operations. Buildings and other structures within the industrial estates can be used as collateral for loans and therefore, improve the cash-flow position of domestic firms. This will likewise eventually attract local and foreign investors. |
| PRINCIPAL AUTHOR/S : SINGSON, ERIC D. |
| DATE FILED : 2001-08-31 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Del Mar (022 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON ECONOMIC AFFAIRS ON 2001-09-24 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON REVISION OF LAWS |
Abstract
Rationale: The proposed amendment to INCLUDE the INDUSTRIAL ESTATE in the definition of a CONDOMINIUM will create a significant incentive to Filipino and foreign businessmen to invest more in industrial estates. It will provide more flexibility inplanning for the optional utilization of space consistent with the requirements of their operations. Buildings and other structures within the industrial estates can be used as collateral for loans and therefore, improve the cash-flow position of domestic firms. This will likewise eventually attract local and foreign investors.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.