Bill Type
Congress Name
Long Title
AN ACT TO FURTHER PROMOTE ENTREPRENEURSHIP AND SUPPORT THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM ENTERPRISES, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 6977, AS AMENDED, OTHERWISE KNOWN AS THE MAGNA CARTA FOR SMALL ENTERPRISES
Date filed
January 22, 2004
Scope
Urgent Bill
Yes
Legislative History
| House Bill/Resolution NO. House Bill No. 6670, 12th Congress of the Republic | |
| FULL TITLE : AN ACT TO FURTHER PROMOTE ENTREPRENEURSHIP AND SUPPORT THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM ENTERPRISES, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 6977, AS AMENDED, OTHERWISE KNOWN AS THE MAGNA CARTA FOR SMALL ENTERPRISES | |
| SHORT TITLE : Amending RA 6977 to be Known as Magna Carta for Micro, Small and Medium Enterprises | |
| ABSTRACT : The bill seeks to amend the Magna Carta for Small Enterprises to promote entrepreneurship and strengthen assistance programs for small and medium enterprises. It accords explicit recognition to micro enterprises thereby providing them greater access to financing and credit resources. It redefines micro, small and medium enterprises (MSMEs) based on asset size: for micro - less than PhP 3.0 million, for small - PhP 3.0 - 15.0 million, and for medium -PhP 15.0 million. | |
| PRINCIPAL AUTHOR/S : SY-ALVARADO, WILHELMINO M. | |
| DATE FILED : 2004-01-22 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Angping | 2. Moreno |
| 3. De Guzman | 4. Villanueva |
| DATE CERTIFIED AS URGENT:2004-01-28 | |
| URGENT BILL? Yes | |
| DATE CERTIFIED AS URGENT:2004-01-28 | |
| COUNTERPART HOUSE BILL/CONCURRENT RESOLUTION: SB02729 | |
| URGENT SENATE BILL? Yes | |
| DATE CERTIFIED AS URGENT HOUSE BILL: 2004-01-30 | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 02030 | |
| SUBMITTED ON 2004-01-22 | |
| SUBMITTED BY: TRADE AND INDUSTRY, ECONOMIC AFFAIRS, ENTREPRENEURSHIP | |
| RECOMMENDATIONS: approval | |
| SUBSTITUTED BILLS: House Bill No. 5796, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 2004-01-28 | |
| DATE INCLUDED IN OB: 2004-01-28 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2004-01-28 | |
| DATE APPROVED ON SECOND READING : 2004-01-28 | |
| REMARKS : The Body approved to consider the Explanatory Note of the Bill as the sponsorship remarks. | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2004-02-02 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2004-02-03 | |
| HOUSE VOTES: YEAS:166 NAYS:0 ABSTAIN:.0 | |
| DATE TRANSMITTED TO THE SENATE: 2004-02-05 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2004-02-09 | |
| REMARKS : |
Abstract
The bill seeks to amend the Magna Carta for Small Enterprises to promote entrepreneurship and strengthen assistance programs for small and medium enterprises. It accords explicit recognition to micro enterprises thereby providing them greater access to financing and credit resources. It redefines micro, small and medium enterprises (MSMEs) based on asset size: for micro - less than PhP 3.0 million, for small - PhP 3.0 - 15.0 million, and for medium -PhP 15.0 million.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.