Bill Type
Short Title
AGRARIAN AND AGRICULTURAL LOAN RESTRUCTURING AND CONDONATION ACT
Text as Filed (File)
Text as filed (link)
Third Reading Copy link (HRep)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
66
Session Type
Subjects
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Referral (Senate Website)
Committee Details
House Committee Report link
Legislative History
| House Bill/Resolution NO. HB05083 | ||
| FULL TITLE : AN ACT PROVIDING FOR THE RESTRUCTURING AND CONDONATION OF UNPAID INTERESTS, PENALTIES, AND SURCHARGES ON LOANS SECURED BY FARMERS, FISHERFOLK AND AGRARIAN REFORM BENEFICIARIES FROM THE DEPARTMENT OF AGRARIAN REFORM (DAR), THE DEPARTMENT OF AGRICULTURE (DA), THE PEOPLE'S CREDIT AND FINANCE CORPORATION (PCFC), THE COOPERATIVE DEVELOPMENT AUTHORITY (CDA), THE NATIONAL FOOD AUTHORITY (NFA) AND THE QUEDAN AND RURAL CREDIT GUARANTEE CORPORATION (QUEDANCOR) | ||
| SHORT TITLE : Providing For The Restructuring And Condonation Of Unpaid Interests, Penalties, And Surcharges On Loans Secured By Farmers, Fisherfolk And Agrarian Reform Beneficiaries From The Department Of Agrarian Reform ( D A R ), The Department Of Agriculture ( D A ), The People's Credit And Finance Corporation ( P C F C ), The Cooperative Development Authority ( C D A ), The National Food Authority ( N F A ) And The Quedan And Rural Credit Guarantee Corporation ( Q U E D A N C O R ) | ||
| ABSTRACT : Aims to release farmers, fisher-folk and agrarian reform beneficiaries from the bondage of debt and give them the opportunity to regain access to government and commercial credit facilities through condonation of unpaid interests, penalties and surcharges on their existing loans obtained through government lending programs provided: 1.that the bases for the condonation shall be limited to force majeure or market aberration and shall, in no case, be applied for the willful default of the borrower to pay such loans; 2. that the accumulated payments of not less than Five percent (5%) of the loan principal shall have been paid at the time of application for condonation; 3. a graduation process shall be followed in consonance with the plan of payment such that a borrower shall be granted a one-time condonation only; and 4. the condonation shall be in conformity with the applicable general banking laws and regulations of the Bangko Sentral ng Pilipinas (BSP). | ||
| PRINCIPAL AUTHOR/S : CANAMA, SABINIANO S., CHUNGALAO, SOLOMON R., AGABAS, TYRONE D. | ||
| DATE FILED : 2019-10-03 | ||
| SIGNIFICANCE: NATIONAL | ||
| AUTHORS(Committee Report) : | ||
| 1. Canama | 2. Chungalao | 3. Agabas |
| AUTHORS(Final/Third Reading) : | ||
| 1. Canama | 2. Chungalao | |
| 3. Agabas | 4. Sy-Alvarado | |
| 5. Nieto | 6. Villanueva (E.) | |
| 7. Rivera | ||
| ACTIONS TAKEN BY THE COMMITTEE | ||
| COMMITEE HEARINGS/ACTIONS: | ||
| 1. Deliberated upon by the Mother Committee on 2019-11-25 | ||
| 2. Measure approved by the Committee on 2019-11-25 | ||
| 3. Committee Report approved on 2019-12-10 | ||
| 4. Committee Report filed on 2020-01-20 | ||
| COMMITTEE REPORT NO. 00198 | ||
| SUBMITTED ON 2020-01-20 | ||
| SUBMITTED BY: AGRARIAN REFORM | ||
| RECOMMENDATIONS: Approval without amendment. | ||
| COMMITTEE REPORT AUTHORS : CANAMA, SABINIANO S., CHUNGALAO, SOLOMON R., AGABAS, TYRONE D. | ||
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | ||
| REFERRAL TO THE COMMITTEE ON AGRARIAN REFORM ON 2019-11-04 | ||
| DATE INCLUDED IN OB: 2020-01-21 | ||
| DATE CALENDARED : 2020-02-17 | ||
| SECOND READING INFORMATION | ||
| PERIOD OF SPONSORSHIP : 2020-03-04, 2020-03-09 | ||
| SPONSORED BY : Chungalao;Chungalao | ||
| DATE SPONSORSHIP/DEBATE CLOSED: 2020-03-09 | ||
| FINAL LIST OF AUTHORS : Canama, Chungalao, Agabas, Sy-Alvarado, Nieto, Villanueva (E.), Rivera | ||
| DATE APPROVED ON SECOND READING : 2020-03-09 | ||
| THIRD READING INFORMATION | ||
| DATE COPY DISTRIBUTED TO MEMBERS: 2020-03-10 | ||
| DATE APPROVED BY THE HOUSE ON THIRD READING :2020-05-20 | ||
| THIRD READING TITLE :AN ACT PROVIDING FOR THE RESTRUCTURING AND CONDONATION OF UNPAID INTERESTS, PENALTIES, AND SURCHARGES ON LOANS SECURED BY FARMERS, FISHERFOLK AND AGRARIAN REFORM BENEFICIARIES FROM DEPARTMENT OF AGRARIAN REFORM (DAR), DEPARTMENT OF AGRICULTURE (DA), PEOPLE'S CREDIT AND FINANCE CORPORATION (PCFC), COOPERATIVE DEVELOPMENT AUTHORITY (CDA), NATIONAL FOOD AUTHORITY (NFA) AND THE QUEDAN AND RURAL CREDIT GUARANTEE CORPORATION (QUEDANCOR) | ||
| HOUSE VOTES: YEAS:209 NAYS:0 ABSTAIN:.0 | ||
| Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A) | ||
| Y---Abante | B---Abaya--(Absent) | |
| Y---Abellanosa | Y---Abu | |
| Y---Abueg-Zaldivar | Y---Abunda | |
| Y---Acop | B---Acosta--(Absent) | |
| Y---Acosta-Alba | B---Adiong--(Absent) | |
| Y---Advincula | Y---Agabas | |
| B---Agarao--(Absent) | Y---Aglipay | |
| Y---Albano (A.) | D---Albano (R.)--(N/A) | |
| Y---Vargas Alfonso | Y---Almario | |
| Y---Alonte | Y---Alvarez (F.) | |
| B---Alvarez (G.)--(Absent) | B---Alvarez (P.)--(Absent) | |
| Y---Amante-Matba | B---Amatong--(Absent) | |
| Y---Andaya | Y---Angara | |
| Y---Aragones | B---Arbison--(Absent) | |
| Y---Arenas | Y---Macapagal Arroyo | |
| Y---Arroyo | B---Atienza--(Absent) | |
| B---Aumentado--(Absent) | Y---Babasa | |
| Y---Bagatsing | Y---Bainto-Aguinaldo | |
| Y---Balindong | B---Bañas-Nograles--(Absent) | |
| Y---Barba | Y---Barbers | |
| Y---Baronda | B---Barzaga--(Absent) | |
| Y---Bascug | Y---Bautista | |
| Y---Bautista-Bandigan | Y---Belmonte | |
| Y---Benitez | B---Bernos--(Absent) | |
| B---Biazon--(Absent) | Y---Billones | |
| B---Biron--(Absent) | Y---Bolilia | |
| Y---Bondoc | Y---Bordado | |
| Y---Bravo | Y---Brosas | |
| B---Bulut--(Absent) | Y---Bustos | |
| Y---Cabatbat | Y---Cabochan | |
| Y---Cabredo | Y---Cagas | |
| Y---Calderon | B---Calixto--(Absent) | |
| B---Caminero--(Absent) | Y---Campos | |
| B---Canama--(Absent) | B---Caoagdan--(Absent) | |
| D---Cardema--(N/A) | Y---Cari | |
| Y---Castelo | Y---Castro (F.L.) | |
| X---Castro (F.H.) | Y---Cayetano (A.P.) | |
| Y---Cayetano (M.L.) | Y---Celeste | |
| Y---Chatto | Y---Chipeco | |
| Y---Chungalao | Y---Co (A.N.) | |
| X---Co (E.) | X---Cojuangco | |
| Y---Collantes | Y---Crisologo | |
| X---Cua | Y---Cuaresma | |
| Y---Cueva | X---Cullamat | |
| Y---Dagooc | Y---Dalipe | |
| Y---Dalog | Y---Datol | |
| Y---Ruiz Daza | Y---De Jesus | |
| Y---De Venecia | Y---Defensor (L.) | |
| Y---Defensor (M.) | Y---Del Mar | |
| Y---Delos Santos | Y---Deloso-Montalla | |
| Y---Dimaporo (A.) | Y---Dimaporo (M.K.) | |
| X---Duavit | X---Dujali | |
| X---Duterte | Y---Dy (F.M.C.) | |
| Y---Dy (F.) | X---Dy (I.P.) | |
| Y---Ebcas | Y---Ecleo | |
| X---Elago | Y---Enverga | |
| Y---Erice | Y---Eriguel | |
| Y---Ermita-Buhain | Y---Escudero | |
| Y---Espina | X---Espino | |
| X---Estrella | Y---Fariñas (R.C.) | |
| Y---Fariñas I (R.C.) | X---Fernandez | |
| X---Fernando | Y---Ferrer (J.M.) | |
| X---Ferrer (L.) | X---Flores | |
| D---Fongwan--(N/A) | X---Fortun | |
| X---Fortuno | Y---Frasco | |
| X---Fuentebella | Y---Gaite | |
| X---Garbin | X---Garcia (J.E.) | |
| Y---Garcia (P.J.) | Y---Garcia (V.) | |
| X---Garin (J.) | X---Garin (S.) | |
| Y---Gasataya | X---Gatchalian | |
| Y---Gato | Y---Geron | |
| Y---Go (E.C.) | Y---Go (M.) | |
| X---Torres-Gomez | X---Gonzaga | |
| Y---Gonzales (A.) | Y---Gonzales (N.) | |
| Y---Gonzalez | Y---Gorriceta | |
| Y---Guico | X---Gullas | |
| Y---Guya | X---Haresco | |
| Y---Hataman | Y---Hernandez | |
| Y---Herrera-Dy | Y---Hofer | |
| Y---Jalosjos | Y---Javier | |
| X---Jimenez | X---Kho (E.) | |
| X---Kho (W.) | X---Khonghun | |
| Y---Labadlabad | Y---Lacson | |
| Y---Lacson-Noel | Y---Lagman | |
| Y---Lagon | Y---Lara | |
| Y---Lazatin | X---Leachon | |
| Y---Legarda | Y---Lim | |
| Y---Limkaichong | X---Lopez (M.L.) | |
| Y---Loyola | X---Lusotan | |
| Y---Maceda | Y---Madrona | |
| Y---Malapitan | X---Mangaoang | |
| Y---Mangudadatu | X---Marcoleta | |
| Y---Mariano-Hernandez | Y---Mariño | |
| Y---Marquez | Y---Martinez | |
| X---Matba | Y---Matugas | |
| X---Mendoza | Y---Mercado | |
| Y---Momo | Y---Natividad-Nagaño | |
| X---Nava | Y---Nieto | |
| Y---Noel | Y---Nograles (J.J.) | |
| Y---Nograles (J.F.F.) | Y---Nolasco | |
| X---Nuñez-Malanyaon | X---Oaminal | |
| Y---Olivarez | Y---Ong (J.) | |
| Y---Ong (R.) | D---Ordanes--(N/A) | |
| X---Ortega | Y---Ouano-Dizon | |
| X---Pacquiao (A.) | Y---Pacquiao (R.) | |
| Y---Padiernos | Y---Paduano | |
| Y---Palma | Y---Pancho | |
| Y---Panotes | Y---Peña | |
| Y---Pichay | Y---Pimentel | |
| Y---Pineda | X---Plaza | |
| X---Puno | Y---Quimbo | |
| Y---Radaza | Y---Ramirez-Sato | |
| Y---Ramos | Y---Remulla | |
| Y---Revilla | Y---Reyes | |
| Y---Rivera | Y---Robes | |
| Y---Rodriguez | Y---Roman | |
| X---Romero | Y---Romualdez (F.M.) | |
| Y---Romualdez (Y.M.) | Y---Romualdo | |
| Y---Romulo | X---Roque | |
| X---Sacdalan | Y---Sagarbarria | |
| X---Sakaluran | X---Salceda | |
| X---Salimbangon | Y---Salo | |
| Y---Salvador-Tambunting | Y---Sanchez | |
| Y---Sangcopan | X---Santos-Recto | |
| Y---Sarmiento | X---Saulog | |
| X---Savellano | Y---Siao | |
| Y---Silverio | X---Singson | |
| Y---Singson-Meehan | Y---Sinsuat | |
| Y---Suansing (E.) | Y---Suansing (H.) | |
| Y---Suarez (A.) | Y---Suarez (D.) | |
| Y---Suntay | X---Sy-Alvarado | |
| Y---Taduran | Y---Tallado | |
| Y---Tan (A.S.) | Y---Tan (A.) | |
| X---Tan (S.) | Y---Tan (S.A.) | |
| X---Tan-Tambut | X---Tejada | |
| X---Teves (A.) | Y---Teves (J.) | |
| Y---Tiangco | Y---Tolentino | |
| Y---Tulfo | X---Tupas | |
| Y---Tutor | X---Ty (A.) | |
| Y---Ty (D.) | Y---Umali (A.) | |
| Y---Umali (M.V.) | X---Unabia | |
| X---Ungab | X---Uy (J.) | |
| X---Uy (R.) | Y---Valeriano | |
| Y---Valmayor | Y---Vargas | |
| Y---Velasco | X---Veloso | |
| Y---Vergara | Y---Villa | |
| X---Villafuerte | Y---Villanueva (E.) | |
| Y---Villanueva (N.) | Y---Villar | |
| X---Villaraza-Suarez | X---Villarica | |
| Y---Violago | Y---Yap (E.) | |
| Y---Yap (V.) | X---Yu | |
| Y---Zamora (R.) | Y---Zamora (W.K.) | |
| X---Zarate | Y---Zubiri | |
| DATE TRANSMITTED TO THE SENATE: 2020-05-21 | ||
| ACTIONS TAKEN BY THE SENATE/HOUSE | ||
| DATE RECEIVED BY THE SENATE: 2020-05-21 | ||
| REMARKS : |
Senate Legislative History
Entitled: AN ACT PROVIDING FOR THE RESTRUCTURING AND CONDONATION OF UNPAID INTERESTS, PENALTIES, AND SURCHARGES ON LOANS SECURED BY FARMERS, FISHERFOLK AND AGRARIAN REFORM BENEFICIARIES FROM DEPARTMENT OF AGRARIAN REFORM (DAR), DEPARTMENT OF AGRICULTURE (DA), PEOPLE'S CREDIT AND FINANCE CORPORATION (PCFC), COOPERATIVE DEVELOPMENT AUTHORITY (CDA), NATIONAL FOOD AUTHORITY (NFA) AND THE QUEDAN AND RURAL CREDIT GUARANTEE CORPORATION (QUEDANCOR) [ FIRST REGULAR SESSION, 18TH CONGRESS ] [ 2020 ] Introduced by Representatives SABINIANO S. CANAMA, SOLOMON R. CHUNGALAO, TYRONE D. AGABAS, JOSE ANTONIO R. SY-ALVARADO, et. al.; Approved on Third Reading by the House of Representatives on May 20, 2020; 5/21/2020 Sent to the Senate requesting for concurrence; 5/27/2020 Read on First Reading and Referred to the Committee on AGRICULTURE, FOOD AND AGRARIAN REFORM; 9/14/2021 Conducted JOINT COMMITTEE MEETINGS/HEARINGS;
Abstract
Aims to release farmers, fisher-folk and agrarian reform beneficiaries from the bondage of debt and give them the opportunity to regain access to government and commercial credit facilities through condonation of unpaid interests, penalties and surcharges on their existing loans obtained through government lending programs provided: 1.that the bases for the condonation shall be limited to force majeure or market aberration and shall, in no case, be applied for the willful default of the borrower to pay such loans; 2. that the accumulated payments of not less than Five percent (5%) of the loan principal shall have been paid at the time of application for condonation; 3. a graduation process shall be followed in consonance with the plan of payment such that a borrower shall be granted a one-time condonation only; and 4. the condonation shall be in conformity with the applicable general banking laws and regulations of the Bangko Sentral ng Pilipinas (BSP).
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.