HULSE OF REPRESENTATIVES

RECEIVED
REPUBLIC OF THE PHILIPPINES
HOUSE OF REPRESENTATIVES pare: _22 AUG 2016
Quezon City
SEVENTEENTH CONGRESS

First Regular Session

REGISTRATION UNIT
3148 BILLS AND INDEX

House Bill No.

Introduced by MAGDALO Party-List Representative
HON. GARY C. ALEJANO

Explanatory Note

Section 7, Article XVI of the 1987 Philippine Constitution expressly declares that the State shall
provide immediate and adequate care, benefits, and other forms of assistance to war veterans and
veterans of military campaigns, their surviving spouses and orphans. Funds shall be provided
therefor and due consideration shall be given them in disposition of agricultural lands of the
public domain and, in appropriate cases, in the utilization of natural resources.

In obedience to the Constitutional mandate, Congress enacted in 1990 Republic Act 6948,
otherwise known as “An Act standardizing and upgrading the benefits for military veterans and
their dependents”, The law mandated the provision of certain benefits to veterans and their
eligible dependents such as the Old Age Pension, Disability Pension, Death Pension, educational
benefits, burial assistance, and the provision of hospitalization, medical care and treatment
through the Veterans Memorial Medical Center (VMMC).

Given this herculean task to provide hospitalization and medical care and treatment, the VMMC.
has to be given a sustained and ample financial support to allow it to deliver quality service to
our nation’s defenders and their eligible dependents. Our government must ensure that VMMC
has the needed resources especially in these times when the cost of hospitalization and medicines
has risen to heights far beyond the means of most veterans who are suffering from service
connected or aging-related ailments.

On the other hand, as presently provided under Section 22 of Republic Act 3518, it is mandated
that 20% of the net profit of the Philippine Veterans Bank, after deducting the guaranteed
carnings of the preferred shall be used, among others, for rehabilitation purposes and for other
purposes beneficial to the veterans and their eligible dependents. Since the main rehabilitation
facility for veterans is at the VMMC, it is but fitting that said amount be directly funnelled to it
to ensure fulfilment of its mandate.

Hence, it is the objective of this bill to pool in resources, and consolidate and harmonize all
existing efforts of providing hospitalization, medical care and treatment to veterans and their
eligible dependents through the VMMC pursuant to and consistent with the mandate of Republic
Act 6948 as amended.

It must also be noted that VMMC was established in 1955 in honor of our veterans who
selflessly and valiantly fought for our country, thus, it is but fitting that our government
strengthen the VMMC for it to be able to deliver quality service that our veterans — our nation's
defenders and their eligible dependents truly deserve.

In view of the foregoing, approval of this measure is earnestly sought.

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01 '. ALEJANO.


REPUBLIC OF THE PHILIPPINES
HOUSE OF REPRESENTATIVES
Quezon City

SEVENTEENTH CONGRESS
First Regular Session

No, 3148

House Bill No.

Introduced by MAGDALO Party-List Representative
HON. GARY C, ALEJANO

AN ACT
AMENDING REPUBLIC ACT NO. 3518 OTHERWISE KNOWN AS “AN ACT
CREATING THE PHILIPPINE VETERANS’ BANK, AND FOR OTHER PURPOSE

Be it enacted by the Senate and House of Representatives of the Philippines in Congress
assembled:

1 SECTION 1, Section 23 of Republic Act No. 3518 is repealed and Section 22
2 of Republic Act No, 3518 is hereby amended to read as follows:

3 “Section 22. Allocation of Net Profits, At the close of each calend:

4 the Bank shall determine the net result of its operations, in the calculation of
5) which, adequate allowances shall be made for probable losses, and net profit
6 arrived thereat shall be distributed as follows:

7 a) Xxx

8 b) From the remaining eighty (80%) percent of the profit shall be
9 deducted the guaranteed earning of the preferred shares of stock
10 owned by individual veterans, their widows, orphans or
uw compulsory heirs: Provided, the share in the net profits
12 corresponding to the Republic of the Philippines shall be first
13 applied in payment of its capital stock subscription, until said
14 shares shall have been fully paid, Thereafter, twenty percentum of
45 the net profits after deducting the guaranteed earnings of the
16 preferred shares shall be paid in cash of the [Board of Trustees as
7 hereinafter provided ins Section 23 hereof for disposition and shall
18 be available for “grants-in-aid” to veterans, their widows, orphans,
19 or compulsory heirs, for educational, social, charitable, and
20 rehabilitation purposes, to organization doing service for the cause
21 of the veterans, and for such other purposes beneficial to the
2 veterans] VETERANS MEMORIAL MEDICAL CENTER
23 (VMMC) TO GUARANTEE AND SUPPORT THE
24 IMPLEMENTATION OF THE VETERANS


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HOSPITALIZATION PROGRAM AS MANDATED BY
REPUBLIC ACT NO. 6948 AS AMENDED.

‘The remaining profits shall be paid as dividens on common shares
led by the individual veterans as provided in Section 3 of this Act.

SEC. 2. Repealing Clause. ~ All existing laws or parts thereof inconsistent
with the provisions of the Act are hereby repealed or modified accordingly

SEC. 3. Effectivity. - This Act shall take effect fifteen (15) days after its

publication in the Official Gazette or in a newspaper of general circulation

Approved,