Legislative History
| House Bill/Resolution NO. House Bill No. 6344, 12th Congress of the Republic | |
| FULL TITLE : AN ACT RESTORING THE FISCAL INCENTIVES TO ENTERPRISES ENGAGED IN AGRICULTURE AND FISHERIES AS PREVIOSLY GRANTED UNDER REPUBLIC ACT NUMBERED EIGHT THOUSAND FOUR HUNDRED THIRTY-FIVE (R.A. 8435), OTHERWISE KNOWN AS THE AGRICULTURE AND FISHERIES MODERNIZATION ACT OF 1997 | |
| SHORT TITLE : Restoring the Fiscal Incentives to Enterprises Engaged in Agriculture and Fisheries | |
| ABSTRACT : Considering that the agriculture sector holds the second highest multiplier effect on the national economy, more incentives for our farmers and agri-based industries are in order, This measure proposes to restore the duty exemption incentive to enterprises in the agriculture and fishery sectors (inclusive of single proprietorships, partnerships, cooperatives, corporations, farmer's organizations/associations or juridical entities) that was previously granted under Section 109 of RA 8435 (Agriculture and Fisheries Modernization Act [AFMA] OF 1997). The fiscal incentives expired on February 8, 2003. This measure also proposes to reinstate the penal provisions in the AFMA law for violation of the incentive provision therein to ensure strict compliance of the conditions for the grant of duty exemption. | |
| PRINCIPAL AUTHOR/S : TEVES, HERMINIO G. | |
| DATE FILED : 2003-08-18 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Chiongbian | 2. Antonino-custodio |
| 3. Ledesma | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 1740 | |
| SUBMITTED ON 2003-08-18 | |
| SUBMITTED BY: WAYS AND MEANS | |
| RECOMMENDATIONS: Approval | |
| SUBSTITUTED BILLS: House Bill No. 5665, 12th Congress of the Republic, House Bill No. 5712, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 2003-08-25 | |
| DATE INCLUDED IN OB: 2003-08-25 | |
| DATE CALENDARED : 2003-09-02 | |
| REMARKS: ALL THE MEMBERS OF THE COMMITEE ON WAYS AND MEANS ARE CONSIDERED AS AUTHORS THEREOF | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2003-09-08 | |
| DATE APPROVED ON SECOND READING : 2003-09-08 | |
| REMARKS : The Body approved the Explanatory Note of the Bill as the sponsorship remarks; approved the Committee amendments, if any on Sept. 08, 2003 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2003-10-14 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2003-11-19 | |
| HOUSE VOTES: YEAS:166 NAYS:0 ABSTAIN:.0 | |
| DATE TRANSMITTED TO THE SENATE: 2003-11-20 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2003-12-01 | |
| REMARKS : |
Abstract
"Considering that the agriculture sector holds the second highest multiplier effect on the national economy, more incentives for our farmers and agri-based industries are in order, This measure proposes to restore the duty exemption incentive to enterprises in the agriculture and fishery sectors (inclusive of single proprietorships, partnerships, cooperatives, corporations, farmer's organizations/associations or juridical entities) that was previously granted under Section 109 of RA 8435 (Agriculture and Fisheries Modernization Act [AFMA] OF 1997). The fiscal incentives expired on February 8, 2003. This measure also proposes to reinstate the penal provisions in the AFMA law for violation of the incentive provision therein to ensure strict compliance of the conditions for the grant of duty exemption."
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.