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 FINANCIAL LITERACY AND ENTREPRENEURSHIP PROGRAMS FOR 
WORKERS 
EXPLANATORY NOTE 
Financial literacy empowers people to make smart financial decisions. For employees, financial 
literacy allows for better awareness and understanding of how money works and how to handle 
it responsibly. With adequate knowledge about managing money effectively, people are better 
equipped to reach financial goals and financial stability. As for working entrepreneurs (those 
employed and at the same time engaged in micro, small and medium enterprises), financial 
literacy would greatly help them in sustaining their businesses. Moreover, financial literacy could 
also contribute to reducing financial-related stress and help them pay off debts, save for their 
major goals, and ensure that they are stable enough to sustain themselves throughout retirement. 
In this regard,  this measure seeks to award grants and loans on a competitive basis, to eligible 
entities to enable such entities to provide financial literacy and entrepreneurship programs to 
workers. This measure likewise allows the Department of Labor and Employment to assist 
deserving working entrepreneurs in the form of grants or loans so that they may be able to launch 
their micro, small, and/or medium enterprises.  
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 
September 5, 2022
9:03 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 FINANCIAL LITERACY AND ENTREPRENEURSHIP PROGRAMS FOR 
WORKERS 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled: 
SECTION 1. Short Title. – This Act shall be known as the “Financial Literacy for Workers Act.” 
SEC. 2. Definition of Terms. – For purposes of this Act, the following terms are hereby defined: 
(A) Eligible entity refers to the employer:
(B) Working entrepreneurs refers to individuals who are employed and engaged in the
operations and/or management of a micro, small or medium enterprise;
(C) Department means the Department of Labor and Employment;
(D) Secretary means the Secretary of Labor and Employment;
SEC. 3. Grants and Loans. – The Secretary shall award grants and loans on a competitive 
basis, to eligible entities to enable such entities to provide financial literacy and entrepreneurship 
programs to workers. The Secretary may make available to deserving working entrepreneurs, 
assistance in the form of grants or loans, to provide for the initial launch of their small or medium 
enterprises.  
SEC. 4. Application. – An eligible entity and working entrepreneur that desires to receive a 
grant and loan under this section shall submit an application to the Secretary accompanied by 
itemized budget and other data as the Secretary may be obliged. 
SEC. 5 Appropriations. – The amount necessary for the initial implementation of this Act shall 
be sourced from the current budgets and development funds of the Department of Labor and 
Employment. Thereafter, the funds necessary for the continuous implementation of this Act in 
the ensuing years shall be included in the respective annual appropriations of the Department in 
the General Appropriations Act.  
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SEC. 6 Implementing Rules and Regulations. – The Department of Labor and Employment, 
in consultation with relevant stakeholders shall issue within sixty (60) days after the effectivity of 
this Act, the rules and regulations for the effective implementation of this Act.  
 
SEC. 7. Separability Clause. – If any provision of this Act or any part thereof shall be declared 
unconstitutional or invalid, the other provisions, as far as they are separable, shall remain in force 
and effect.  
 
SEC. 8. Repealing Clause. – All laws, decrees, orders, rules, and regulations or thereof which 
are inconsistent with the provisions of this Act are hereby repealed, amended, or modified 
accordingly.  
 
SEC. 9. Effectivity. – This Act shall take effect fifteen (15) days after its publication in the 
Official Gazette or at least two (2) newspapers of general circulation. 
 
Approved,