Bill Type
Congress Name
Long Title
AN ACT AUTHORIZING FARMER-BENEFICIARIES TO MORTGAGE THE RIGHT TO A FARM LAND AWARDED TO HIM THROUGH THE CERTIFICATE OF LAND OWNERSHIP, BY VIRTUE OF THE COMPREHENSIVE AGRARIAN REFORM PROGRAM SHALL BE ACCEPTED BY BANKS AND OTHER FINANCIAL INSTITUTIONS AS COLLATERAL FOR LOANS, AMENDING FOR THE PURPOSE SECTIONS 27 AND 21 OF REPUBLIC ACT NO. 6675, OTHERWISE KNOWN AS THE COMPREHENSIVE AGRARIAN REFORM LAW OF 1998
Date filed
December 20, 2007
Scope
Legislative History
House Bill/Resolution NO. HB03368 |
FULL TITLE : AN ACT AUTHORIZING FARMER-BENEFICIARIES TO MORTGAGE THE RIGHT TO A FARM LAND AWARDED TO HIM THROUGH THE CERTIFICATE OF LAND OWNERSHIP, BY VIRTUE OF THE COMPREHENSIVE AGRARIAN REFORM PROGRAM SHALL BE ACCEPTED BY BANKS AND OTHER FINANCIAL INSTITUTIONS AS COLLATERAL FOR LOANS, AMENDING FOR THE PURPOSE SECTIONS 27 AND 21 OF REPUBLIC ACT NO. 6675, OTHERWISE KNOWN AS THE COMPREHENSIVE AGRARIAN REFORM LAW OF 1998 |
ABSTRACT : The bill allows farmer-beneficiaries to use awarded land as collateral for both short-term and long-term production and other types of loans for the acquisition of farm equipment and machineries, seeds, fertilizers and other similar items. |
PRINCIPAL AUTHOR/S : CHATTO, EDGARDO M. |
DATE FILED : 2007-12-20 |
SIGNIFICANCE: NATIONAL |
ACTIONS TAKEN BY THE COMMITTEE |
COMMITEE HEARINGS/ACTIONS: |
1. Scheduled for first meeting/hearing on 2008-09-03 |
2. Under deliberation by the Mother Committee on 2008-09-30 |
ACTIONS TAKEN BY THE COMMITTEE ON RULES |
REFERRAL TO THE COMMITTEE ON AGRARIAN REFORM ON 2008-01-28 |
SECONDARILY REFERRED TO THE COMMITTEE(S) ON BANKS AND FINANCIAL INTERMEDIARIES |
Abstract
The bill allows farmer-beneficiaries to use awarded land as collateral for both short-term and long-term production and other types of loans for the acquisition of farm equipment and machineries, seeds, fertilizers and other similar items.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.