Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO. _______ 
Introduced by HON. GUS S. TAMBUNTING 
AN ACT PROVIDING FOR THE CONDONATION OF ALL UNPAID PRINCIPAL, 
INTERESTS, PENALTIES, OR SURCHARGES ON LOANS SECURED BY 
AGRARIAN REFORM BENEFICIARIES UNDER THE COMPREHENSIVE 
AGRARIAN REFORM PROGRAM AND FOR OTHER PURPOSES 
EXPLANATORY NOTE 
Sec. 21, Art. II of the 1987 Constitution states that “The State shall promote comprehensive 
rural development and agrarian reform.” 
This bill seeks to help our farmers to recover and overcome the fallout of the COVID-19 
crisis, slow economic growth, and escalating wars. Condoning their land amortization will 
provide them with much-needed financial resources that shall develop their farms, increase 
their productivity and advance their agriculture-driven economy. In the end. It desires to 
improve the lives of farmers, reduce poverty, accelerate rural development and promote 
food security. 
Former President Ramon Magsaysay once said, “I believe that he who has less in life should 
have more in law.”  
This bill aims to exemplify the social justice aspect of agrarian reform. 
Filipino farmers were not spared from the wrath of the pandemic. They had to sell their 
products for a low price yet they have to buy commodities whose prices continue to rise due 
to inflation.  
If their land amortization will be condoned, they can use the money to help in buying their 
daily essential needs. We have to help our farmers because they are the backbone of our 
country since we are an agricultural country.  
On behalf of the people of Parañaque City’s Second District, and for the common good 
of the Filipino people, the approval of the said measure is earnestly sought. 
REP. GUS S. TAMBUNTING 
2nd District, Parañaque City 
October 21, 2022
8:02 am
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Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO. _______ 
Introduced by HON. GUS S. TAMBUNTING 
AN ACT 
PROVIDING FOR THE CONDONATION OF ALL UNPAID PRINCIPAL, INTERESTS, 
PENALTIES, OR SURCHARGES ON LOANS SECURED BY 
AGRARIAN REFORM BENEFICIARIES UNDER THE COMPREHENSIVE AGRARIAN 
REFORM PROGRAM AND FOR OTHER PURPOSES 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled: 
Section 1. Condonation of Unpaid Amortizations, Interest Payments, Penalties or 
Surcharges. — All unpaid principal and interests, including penalties or surcharges, if any, 
due from loans used for land acquisition secured under the Comprehensive Agrarian Reform 
Program are hereby condoned by the Government, thereby relieving all farmer-beneficiaries 
from the payment thereof: Provided, That the condonation of such all unpaid principal, 
interests, penalties or surcharges, shall be in conformity with the applicable banking laws 
and regulations of the Bangko Sentral ng Pilipinas: Provided, further, That upon the 
effectivity of this Act, the Land Bank of the Philippines (LBP) shall issue the certification 
necessary to facilitate the issuance of a certificate of land title ownership in favor of the 
agrarian reform beneficiary concerned: Provided, finally, That the condonation of all unpaid 
principal, interests, penalties or surcharges shall release all attached liens and 
encumbrances arising from the loans secured for land acquisition. 
Sec. 2. Implementing Rules and Regulations. — Within thirty (30) days from the effectivity 
of this Act, the Department of Agrarian Reform, in coordination with the 
Philippine Agrarian Reform Council, the Department of Finance, and the LBP shall 
promulgate the necessary rules and regulations to effectively implement the provisions of 
this Act. 
Sec. 3. Repealing Clause. — Section 26 of Republic Act No. 6657, as amended, 
otherwise known as the "Comprehensive Agrarian Reform Law of 1988' is hereby 
repealed. All laws, decrees, orders, rules, and regulations or parts thereof inconsistent with 
any of the provisions of this Act are hereby repealed, amended, or modified accordingly. 
Sec. 4. Effectivity Clause. - This Act shall take effect fifteen (15) days after its publication in 
the Official Gazette or in at least two (2) newspapers of general circulation. 
Approved 
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