Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR A SYSTEM OF COMPENSATION TO BUILDERS AND CONTRACTORS OF BUILD-OPERATE-T RANSFER (BOT) PROJECTS, WHICH ENHANCE THE VALUE OF LANDS OR PROPERTY
Date filed
November 3, 1999
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB08709 |
| FULL TITLE : AN ACT PROVIDING FOR A SYSTEM OF COMPENSATION TO BUILDERS AND CONTRACTORS OF BUILD-OPERATE-T RANSFER (BOT) PROJECTS, WHICH ENHANCE THE VALUE OF LANDS OR PROPERTY |
| ABSTRACT : The State shall formulate and implement policies and programs to provide a system of compensation to BOT investors whose projects resulted the increase in the value of land. These investors shall be compensated by the property owner, or in case ofpublic lands, by the local government unit or the national government, through an equitable reimbursement based on a percentage of the realized gain or increase in value attributable to said development. |
| PRINCIPAL AUTHOR/S : PONCE, NESTOR JR. C. |
| DATE FILED : 1999-11-03 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON PUBLIC WORKS AND HIGHWAYS ON 1999-11-15 |
Abstract
The State shall formulate and implement policies and programs to provide a system of compensation to BOT investors whose projects resulted the increase in the value of land. These investors shall be compensated by the property owner, or in case ofpublic lands, by the local government unit or the national government, through an equitable reimbursement based on a percentage of the realized gain or increase in value attributable to said development.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.