Bill Type
Congress Name
Long Title
AN ACT FURTHER STRENGTHENING THE HOME DEVELOPMENT MUTUAL FUND AND FOR OTHER PURPOSES
Date filed
September 27, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 3276, 12th Congress of the Republic |
| FULL TITLE : AN ACT FURTHER STRENGTHENING THE HOME DEVELOPMENT MUTUAL FUND AND FOR OTHER PURPOSES |
| ABSTRACT : In order to STRENGTHEN the Home Development Mutual Fund, this bill proposes the following: 1. Removal of the Thirty-two Percent (32%) corporate tax assessed on the Fund; 2. Grant of authority to deal direclty and actively engage in portfolio management to maximize the Fund's viability; 3. Adjustment in the employer's contribution to the Fund at the rate of TWO PERCENT(2%) of the monthly pay of the member; and 4. EXEMPTION of the Fund for the coverage of the Salary Standardization Law. |
| PRINCIPAL AUTHOR/S : FAILON, TED |
| DATE FILED : 2001-09-27 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. Espino |
| CO-AUTHORS (Journal Entries) : |
| 1. Echiverri (035 ) |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 2001-10-02 |
Abstract
"In order to STRENGTHEN the Home Development Mutual Fund, this bill proposes the following: 1. Removal of the Thirty-two Percent (32%) corporate tax assessed on the Fund; 2. Grant of authority to deal direclty and actively engage in portfolio management to maximize the Fund's viability; 3. Adjustment in the employer's contribution to the Fund at the rate of TWO PERCENT(2%) of the monthly pay of the member; and 4. EXEMPTION of the Fund for the coverage of the Salary Standardization Law."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.