RA 8435 (Agriculture & Fisheries Modernization Act) instituted various measures and mechanisms for the modernization within the agriculture and fisheries sectors. However, the livestock industry, which is an integral part of the agriculture sector, was excluded from the tariff and duty exemption privilege for importations of animal feeds components such as yellow corn. As a result, the livestock industry and, consequently the entire meat consuming population were prejudiced. This measure seeks to extend the period of exemption of all enterprises engaged in agriculture and fisheries from the payment of tariff and duties for the importation of agriculture and fisheries inputs. It also aims to amend Section 109 of RA 8435 by extending the tariff and duty-free privilege to importation of animal feeds components and their substitutes.