Republic of the Philippines = ein Hist
HOUSE OF REPRESENTATIVES AUG _1 0 2022

Quezon City, Metro Manila

(TH CONGRESS
First Regular §

HOUSE BILL

Introduced by Representative Jaime R. Fresnedi

EXPLANATORY NOTE

This bill essentially seeks to provide relief to our agrarian reform beneficiaries (ARBs) by
providing a condonation on all unpaid interests, penalties. or surcharges on the agrarian reform
program of the Government.

In his first State of the Nation Address (SONA), President Marcos Jr. highlighted that
“agrarian reform is not only about the acquisition, but also support services and distributio
(Marcos Jr.. 2022), As Congress explores legislative intervention needed on the same, the
President himself committed that he would issue an Executive Order (EO) to impose a one-year
moratorium on land amortization and interest payments by agrarian reform beneficiaries.

This proposed measure is the response to that call. It seeks to improve the administration
of the land reform program by condoning the payment of interests, penalties, and surcharges
secured by agrarian reform beneficiaries under the Comprehensive Agrarian Reform Program. In
its noblest intent, this bill will ultimately achieve the objectives of the Comprehensive Agrarian
Reform Law by lessening rural poverty incidence and improving rural development.

As this is included in the priority legislative agenda of the President, and in view thereof,

is respectfully requested.

the immediate approval of thi

JAT

representative
t, Muntinlupa City



Republic of the Philippines
HOUSE OF REPRESENT
Quezon City, Metro Manila

VES

Introduced by Representative Jaime R. Fresnedi

AN ACT
PROVIDING FOR THE CONDONATION OF ALL UNPAID INTERESTS,
PENALTIES, AND 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 the House of Representatives of the Philippines in
Congress assembled:

SECTION 1. Condonation of All Unpaid Interests, Penalties, and Surcharges. — AML
unpaid interests, including penalties and surcharges used for land acquisition secured by
agrarian reform beneficiaries under the Comprehensive Agrarian Reform Program, are
hereby condoned: Provided, That the condonation of such unpaid interests, penalties, and
surcharges, shall be in conformity with the applicable banking laws and regulations of the
Bangko Sentral ng Pilipinas: Provided, further, That the condonation of all unpaid interests,
penalties, and 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, Department of Finance, shall promulgate the necessary
rules and regulations to effectively implement the provisions of this Act.

Sec. 3. Repealing Clause. ~ 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.  Separability Clause. - If any provision of this Act shall be held
unconstitutional or invalid, the other provisions not otherwise affected shall remain in full
force and effect.

Sec. 5. Effectivity. - 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,