Bill Type
Congress Name
Long Title
AN ACT PROHIBITING THE CREATION OF INDEBTEDNESS BY LOCAL GOVERNMENT UNITS WHOSE HEAD IS ON HIS/HER THIRD TERM OF OFFICE AND AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 7160 OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991
Date filed
August 27, 2008
Scope
Legislative History
| House Bill/Resolution NO. HB04998 |
| FULL TITLE : AN ACT PROHIBITING THE CREATION OF INDEBTEDNESS BY LOCAL GOVERNMENT UNITS WHOSE HEAD IS ON HIS/HER THIRD TERM OF OFFICE AND AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 7160 OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE OF 1991 |
| ABSTRACT : Aims to prohibit local government units (LGUs) from acquiring loans, credits and other forms of indebtedness when the LGU head is on his/her third term unless the loan's repayment scheme ensures that the loan shall be paid off before the end of the term of the LGU head. |
| PRINCIPAL AUTHOR/S : ESCUDERO, SALVADOR III H. |
| DATE FILED : 2008-08-27 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON LOCAL GOVERNMENT ON 2008-09-01 |
Abstract
Aims to prohibit local government units (LGUs) from acquiring loans, credits and other forms of indebtedness when the LGU head is on his/her third term unless the loan's repayment scheme ensures that the loan shall be paid off before the end of the term of the LGU head.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.