Committee Details
Legislative History
| House Bill/Resolution NO. HB06134 | |
| FULL TITLE : AN ACT MANDATING BANKING INSTITUTIONS TO STRENGTHEN THE FINANCING SYSTEM FOR AGRICULTURAL, FISHERIES AND RURAL DEVELOPMENT IN THE PHILIPPINES | |
| SHORT TITLE : Mandating Banking Institutions To Strengthen The Financing System For Agricultural, Fisheries And Rural Development In The Philippines | |
| ABSTRACT : Aims to promote rural development by enhancing access of rural communities and agricultural and fisheries households to financial services and programs that increase productivity, enhance market efficiency, promote modernization and improve the welfare and economic prospects of beneficiaries in rural communities through active participation of banking institutions.
States that agricultural, fisheries and rural development financing shall consist of loans, investments and grants to finance activities identified under the Agro-Industry Modernization Credit and Financing Program (AMCFP) as enumerated under Chapter 3, Section 23 of RA 8435, off-farm/fishery activities, agricultural mechanization/modernization, agri-tourim, green finance projects, acquisition of lands under the Agrarian Reform Code of the Philippines and its amendments, efficient and effective marketing, processing, distribution and storage of agricultural and fishery commodities, public rural infrastructure, as well as programs that shall address the development needs of rural communities, and all other activities as may be determined by the Agricultural and Fisheries and Capacity-Building Council (AFFCC). Mandates all banking institutions, except newly-established banks for a period of five (5) years from the date of commencement of the bank's operations, shall set aside a credit quota, or a minimum mandatory agricultural and fisheries financing requirement of at least twenty-five percent (25%) of their total loanable funds as defined by the Bangko Sentral ng Pilipinas (BSP). |
|
| ALIAS NAME : "Rural Agricultural and Fisheries Development Financing System Act." | |
| PRINCIPAL AUTHOR/S : CUA, JUNIE E., TIANGCO, JOHN REYNALD M., PADUANO, JOSEPH STEPHEN S., PADIERNOS, JOSE GAY G., SINGSON, JOSE "BONITO" JR. C., LUSOTAN, MACNELL, GARBIN, ALFREDO JR. A., OAMINAL, HENRY S. | |
| DATE FILED : 2020-01-30 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Gullas (000 2020-03-03) | 2. Sangcopan (000 2020-03-04) |
| 3. Villarica (000 2020-03-05) | 4. Dalipe (000 2020-03-04) |
| AUTHORS(Final/Third Reading) : | |
| 1. Cua | 2. Tiangco |
| 3. Paduano | 4. Padiernos |
| 5. Singson | 6. Lusotan |
| 7. Garbin | 8. Oaminal |
| 9. Romualdez (F.M.) | 10. Remulla |
| 11. Bolilia | 12. Bondoc |
| 13. De Venecia | 14. Herrera-Dy |
| 15. Romualdo | 16. Fariñas (R.C.) |
| 17. Suarez (D.) | 18. Baronda |
| 19. Bautista | 20. Singson-Meehan |
| 21. Zubiri | 22. Taduran |
| 23. Delos Santos | 24. Agabas |
| 25. Zarate | 26. Bordado |
| 27. Castro (F.L.) | 28. Escudero |
| 29. Estrella | 30. Gonzales (A.) |
| 31. Arenas | 32. Savellano |
| 33. Deloso-Montalla | 34. Lara |
| 35. Go (M.) | 36. Aragones |
| 37. Sarmiento | 38. Acosta |
| 39. Robes | 40. Ferrer (J.M.) |
| 41. Bravo | 42. Acop |
| 43. Tutor | 44. Yap (V.) |
| 45. Haresco | 46. Abante |
| 47. Villafuerte | 48. Salceda |
| 49. Garcia (P.J.) | |
| COUNTERPART HOUSE BILL/CONCURRENT RESOLUTION: SB02494 | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 00210 | |
| SUBMITTED ON 2020-01-30 | |
| SUBMITTED BY: BANKS AND FINANCIAL INTERMEDIARIES | |
| RECOMMENDATIONS: Approval in substitution of House Bill No. 5681 | |
| SUBSTITUTED BILLS: HB05681 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 2020-02-03 | |
| DATE INCLUDED IN OB: 2020-02-03 | |
| DATE CALENDARED : 2020-02-17 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2020-02-19, 2020-02-24, 2020-03-04 | |
| SPONSORED BY : Cua;Cua;Cua | |
| PERIOD OF INTERPELLATIONS : 2020-02-19, 2020-02-24 | |
| INTERPELLATED BY : Atienza, Gonzales (A.), Zarate | |
| DATE SPONSORSHIP/DEBATE CLOSED: 2020-03-04 | |
| PERIOD OF INDIVIDUAL AMENDMENTS : 2020-03-04 | |
| AMENDED BY : Romualdo | |
| FINAL LIST OF AUTHORS : Cua, Tiangco, Paduano, Padiernos, Singson, Lusotan, Garbin, Oaminal, Romualdez (F.M.), Remulla, Bolilia, Bondoc, De Venecia, Herrera-Dy, Romualdo, Fariñas (R.C.), Suarez (D.), Baronda, Bautista, Singson-Meehan, Zubiri, Taduran, Delos Santos, Agabas, Zarate, Bordado, Castro (F.L.), Escudero, Estrella, Gonzales (A.), Arenas, Savellano, Deloso-Montalla, Lara, Go (M.), Aragones, Sarmiento, Acosta, Robes, Ferrer (J.M.), Bravo, Acop, Tutor, Yap (V.), Haresco, Abante, Villafuerte, Salceda, Garcia (P.J.) | |
| DATE APPROVED ON SECOND READING : 2020-03-04 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2020-03-05 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2020-03-10 | |
| THIRD READING TITLE : AN ACT MANDATING BANKING INSTITUTIONS TO STRENGTHEN THE FINANCING SYSTEM FOR AGRICULTURAL, FISHERIES AND RURAL DEVELOPMENT IN THE PHILIPPINES | |
| HOUSE VOTES: YEAS:240 NAYS:5 ABSTAIN:.0 | |
| Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A) | |
| Y---Abante | Y---Abaya |
| Y---Abellanosa | Y---Abu |
| B---Abueg-Zaldivar--(Absent) | Y---Abunda |
| Y---Acop | Y---Acosta |
| Y---Acosta-Alba | Y---Adiong |
| Y---Advincula | Y---Agabas |
| Y---Agarao | Y---Aglipay |
| Y---Albano (A.) | D---Albano (R.)--(N/A) |
| B---Vargas Alfonso--(Absent) | Y---Almario |
| Y---Alonte | Y---Alvarez (F.) |
| Y---Alvarez (G.) | B---Alvarez (P.)--(Absent) |
| Y---Amante-Matba | Y---Amatong |
| Y---Andaya | Y---Angara |
| Y---Aragones | B---Arbison--(Absent) |
| Y---Arenas | Y---Macapagal Arroyo |
| Y---Arroyo | X---Atienza |
| Y---Aumentado | Y---Babasa |
| Y---Bagatsing | Y---Bainto-Aguinaldo |
| Y---Balindong | Y---Bañas-Nograles |
| Y---Barba | B---Barbers--(Absent) |
| Y---Baronda | Y---Barzaga |
| Y---Bascug | Y---Bautista |
| B---Bautista-Bandigan--(Absent) | Y---Belmonte |
| Y---Benitez | Y---Bernos |
| Y---Biazon | Y---Billones |
| Y---Biron | Y---Bolilia |
| Y---Bondoc | Y---Bordado |
| Y---Bravo | N---Brosas |
| Y---Bulut | Y---Bustos |
| Y---Cabatbat | Y---Cabochan |
| Y---Cabredo | Y---Cagas |
| Y---Calderon | Y---Calixto |
| Y---Caminero | Y---Campos |
| Y---Canama | Y---Caoagdan |
| D---Cardema--(N/A) | Y---Cari |
| Y---Castelo | N---Castro (F.L.) |
| Y---Castro (F.H.) | X---Cayetano (A.P.) |
| Y---Cayetano (M.L.) | Y---Celeste |
| Y---Chatto | Y---Chipeco |
| Y---Chungalao | B---Co (A.N.)--(Absent) |
| Y---Co (E.) | X---Cojuangco |
| Y---Collantes | Y---Crisologo |
| Y---Cua | Y---Cuaresma |
| Y---Cueva | X---Cullamat |
| Y---Dagooc | Y---Dalipe |
| Y---Dalog | Y---Datol |
| B---Ruiz Daza--(Absent) | X---De Jesus |
| Y---De Venecia | Y---Defensor (L.) |
| B---Defensor (M.)--(Absent) | Y---Del Mar |
| Y---Delos Santos | Y---Deloso-Montalla |
| Y---Dimaporo (A.) | Y---Dimaporo (M.K.) |
| Y---Duavit | B---Dujali--(Absent) |
| X---Duterte | Y---Dy (F.M.C.) |
| Y---Dy (F.) | B---Dy (I.P.)--(Absent) |
| Y---Ebcas | B---Ecleo--(Absent) |
| N---Elago | B---Enverga--(Absent) |
| Y---Erice | Y---Eriguel |
| Y---Ermita-Buhain | Y---Escudero |
| Y---Espina | Y---Espino |
| Y---Estrella | Y---Fariñas (R.C.) |
| Y---Fariñas I (R.C.) | B---Fernandez--(Absent) |
| Y---Fernando | Y---Ferrer (J.M.) |
| Y---Ferrer (L.) | X---Flores |
| D---Fongwan--(N/A) | Y---Fortun |
| Y---Fortuno | B---Frasco--(Absent) |
| Y---Fuentebella | N---Gaite |
| B---Garbin--(Absent) | Y---Garcia (J.E.) |
| X---Garcia (P.J.) | Y---Garcia (V.) |
| Y---Garin (J.) | Y---Garin (S.) |
| Y---Gasataya | Y---Gatchalian |
| Y---Gato | Y---Geron |
| B---Go (E.C.)--(Absent) | Y---Go (M.) |
| Y---Torres-Gomez | Y---Gonzaga |
| Y---Gonzales (A.) | Y---Gonzales (N.) |
| Y---Gonzalez | Y---Gorriceta |
| Y---Guico | Y---Gullas |
| Y---Guya | Y---Haresco |
| Y---Hataman | Y---Hernandez |
| Y---Herrera-Dy | Y---Hofer |
| Y---Jalosjos | Y---Javier |
| B---Jimenez--(Absent) | Y---Kho (E.) |
| Y---Kho (W.) | B---Khonghun--(Absent) |
| Y---Labadlabad | X---Lacson |
| Y---Lacson-Noel | Y---Lagman |
| Y---Lagon | Y---Lara |
| Y---Lazatin | B---Leachon--(Absent) |
| X---Legarda | Y---Lim |
| B---Limkaichong--(Absent) | Y---Lopez (M.L.) |
| B---Loyola--(Absent) | Y---Lusotan |
| Y---Maceda | Y---Madrona |
| Y---Malapitan | Y---Mangaoang |
| B---Mangudadatu--(Absent) | Y---Marcoleta |
| Y---Mariano-Hernandez | Y---Mariño |
| Y---Marquez | Y---Martinez |
| Y---Matba | Y---Matugas |
| Y---Mendoza | Y---Mercado |
| Y---Momo | Y---Natividad-Nagaño |
| Y---Nava | Y---Nieto |
| Y---Noel | Y---Nograles (J.J.) |
| B---Nograles (J.F.F.)--(Absent) | X---Nolasco |
| Y---Nuñez-Malanyaon | Y---Oaminal |
| Y---Olivarez | Y---Ong (J.) |
| Y---Ong (R.) | D---Ordanes--(N/A) |
| Y---Ortega | Y---Ouano-Dizon |
| X---Pacquiao (A.) | Y---Pacquiao (R.) |
| B---Padiernos--(Absent) | Y---Paduano |
| Y---Palma | Y---Pancho |
| Y---Panotes | Y---Peña |
| Y---Pichay | Y---Pimentel |
| Y---Pineda | B---Plaza--(Absent) |
| Y---Puno | Y---Quimbo |
| Y---Radaza | Y---Ramirez-Sato |
| Y---Ramos | Y---Remulla |
| Y---Revilla | Y---Reyes |
| Y---Rivera | Y---Robes |
| Y---Rodriguez | Y---Roman |
| B---Romero--(Absent) | X---Romualdez (F.M.) |
| B---Romualdez (Y.M.)--(Absent) | Y---Romualdo |
| Y---Romulo | B---Roque--(Absent) |
| Y---Sacdalan | Y---Sagarbarria |
| B---Sakaluran--(Absent) | B---Salceda--(Absent) |
| Y---Salimbangon | Y---Salo |
| Y---Salvador-Tambunting | Y---Sanchez |
| Y---Sangcopan | Y---Santos-Recto |
| X---Sarmiento | Y---Saulog |
| Y---Savellano | Y---Siao |
| Y---Silverio | B---Singson--(Absent) |
| 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.) |
| B---Tan (S.)--(Absent) | Y---Tan (S.A.) |
| B---Tan-Tambut--(Absent) | Y---Tejada |
| Y---Teves (A.) | Y---Teves (J.) |
| Y---Tiangco | Y---Tolentino |
| Y---Tulfo | Y---Tupas |
| Y---Tutor | Y---Ty (A.) |
| Y---Ty (D.) | Y---Umali (A.) |
| Y---Umali (M.V.) | Y---Unabia |
| B---Ungab--(Absent) | Y---Uy (J.) |
| Y---Uy (R.) | Y---Valeriano |
| Y---Valmayor | Y---Vargas |
| B---Velasco--(Absent) | Y---Veloso |
| Y---Vergara | Y---Villa |
| X---Villafuerte | B---Villanueva (E.)--(Absent) |
| Y---Villanueva (N.) | B---Villar--(Absent) |
| Y---Villaraza-Suarez | B---Villarica--(Absent) |
| Y---Violago | B---Yap (E.)--(Absent) |
| Y---Yap (V.) | Y---Yu |
| Y---Zamora (R.) | B---Zamora (W.K.)--(Absent) |
| N---Zarate | Y---Zubiri |
| DATE TRANSMITTED TO THE SENATE: 2020-03-11 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2020-03-11 | |
| CONFERENCE COMMITTEE INFORMATION | |
| DATE REQUESTED TO FORM A CONFERENCE COMMITTEE : 2022-02-02 | |
| CONFERENCE COMMITTEEE REQUESTED BY : HOUSE | |
| DATE CC REQUEST RECEIVED BY THE SENATE : 2022-02-03 | |
| REMARKS : | |
| CONCOM MEMBERS(HOUSE) : Cua, Tiangco, Quimbo |
Abstract
Aims to promote rural development by enhancing access of rural communities and agricultural and fisheries households to financial services and programs that increase productivity, enhance market efficiency, promote modernization and improve the welfare and economic prospects of beneficiaries in rural communities through active participation of banking institutions.States that agricultural, fisheries and rural development financing shall consist of loans, investments and grants to finance activities identified under the Agro-Industry Modernization Credit and Financing Program (AMCFP) as enumerated under Chapter 3, Section 23 of RA 8435, off-farm/fishery activities, agricultural mechanization/modernization, agri-tourim, green finance projects, acquisition of lands under the Agrarian Reform Code of the Philippines and its amendments, efficient and effective marketing, processing, distribution and storage of agricultural and fishery commodities, public rural infrastructure, as well as programs that shall address the development needs of rural communities, and all other activities as may be determined by the Agricultural and Fisheries and Capacity-Building Council (AFFCC).Mandates all banking institutions, except newly-established banks for a period of five (5) years from the date of commencement of the bank's operations, shall set aside a credit quota, or a minimum mandatory agricultural and fisheries financing requirement of at least twenty-five percent (25%) of their total loanable funds as defined by the Bangko Sentral ng Pilipinas (BSP).
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.