Legislative History
| House Bill/Resolution NO. HB04484 |
| FULL TITLE : AN ACT AMENDING REPUBLIC ACT NO. 8762, "OTHERWISE KNOWN THE RETAIL TRADE LIBERALIZATION ACT OF 2000", PROVIDING STIFFER PENALTIES AND SANCTIONS, AND FOR OTHER PURPOSES |
| ABSTRACT : Seeks to foster amendments to this Act to provide stiffer penalties and sanctions, encompass greater variety of goods, create more competitive local performers, promote introduction of new technology, and more opportunities for the Filipino people.Proposes amendments to Sec.9 to read as follows:Sec.9. Promotion of Locally Manufactured Products.- For Five (5) years after the effectivity of this Act, at least Ten percent (10%) of the aggregate cost of the stock inventory of foreign retailers shall be made in the Philippines.Also proposes amendment to the penalty clause section wherein any person who shall be found guilty of violation of any provision of this Act shall be punished by imprisonment of not less than Eight (8) years, and a fine of not less than Five million pesos (P5,000.000.00) but not more than Twenty million pesos (P20,000,000.00). |
| PRINCIPAL AUTHOR/S : ROMERO, MICHAEL ODYLON L. |
| DATE FILED : 2019-09-10 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Nieto (000 2019-11-11) |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB00059 |
| CONSOLIDATED WITH: HB00192, HB00344, HB00402, HB01222, HB03502, HB04554 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON TRADE AND INDUSTRY ON 2019-09-13 |
Abstract
Seeks to foster amendments to this Act to provide stiffer penalties and sanctions, encompass greater variety of goods, create more competitive local performers, promote introduction of new technology, and more opportunities for the Filipino people.Proposes amendments to Sec.9 to read as follows:Sec.9. Promotion of Locally Manufactured Products.- For Five (5) years after the effectivity of this Act, at least Ten percent (10%) of the aggregate cost of the stock inventory of foreign retailers shall be made in the Philippines.Also proposes amendment to the penalty clause section wherein any person who shall be found guilty of violation of any provision of this Act shall be punished by imprisonment of not less than Eight (8) years, and a fine of not less than Five million pesos (P5,000.000.00) but not more than Twenty million pesos (P20,000,000.00).
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.