Bill Type
Congress Name
Long Title
AN ACT MODIFYING THE PRESCRIBED CUMULATIVE INVESTMENT CEILINGS IN THE INVESTMENT RESERVE FUNDS OF SOCIAL SECURITY SYSTEMS, THEREBY AMENDING SECTION 26 OF RA 8282 OTHERWISE KNOWN SOCIAL SECURITY ACT OF 1997, AND FOR OTHER PURPOSES
Date filed
July 10, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB00933 |
| FULL TITLE : AN ACT MODIFYING THE PRESCRIBED CUMULATIVE INVESTMENT CEILINGS IN THE INVESTMENT RESERVE FUNDS OF SOCIAL SECURITY SYSTEMS, THEREBY AMENDING SECTION 26 OF RA 8282 OTHERWISE KNOWN SOCIAL SECURITY ACT OF 1997, AND FOR OTHER PURPOSES |
| ABSTRACT : The bill sets the prescribed cumulative investment ceiling in the investment reserve funds of the Social Security System at the following levels: a) 25% in private securities, b) 50% in housing, c) 40% in real estate related investments, d) 25% in short and medium-term member loans, e) 20% in government financial institutions and corporations, f) 15% in infrastructure projects, g) 20% in any particular industry, and h) 20% in foreign currency denominated investments. |
| PRINCIPAL AUTHOR/S : LIM, RENO G. |
| DATE FILED : 2007-07-10 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 2007-08-01 |
Abstract
The bill sets the prescribed cumulative investment ceiling in the investment reserve funds of the Social Security System at the following levels: a) 25% in private securities, b) 50% in housing, c) 40% in real estate related investments, d) 25% in short and medium-term member loans, e) 20% in government financial institutions and corporations, f) 15% in infrastructure projects, g) 20% in any particular industry, and h) 20% in foreign currency denominated investments.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.