THIRTEENTH CONGRESS OF THE REPUBLIC ) 
OF THE PHILIPPINE§ 
) 
5 flM -7 P5:44 
First Regular Session 
) 
(NGAs) undertaking real property: appraisals, each using its own 
methodology. The lack of a single agency responsible for propetty 
created inadequate technical supervision on valuation matted. And 
multiple appraisal systems and procedures ,has resulted in the eack of 
and equity in real property appraisal in the country. 
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To maintain integrity, equity and uniformity in the base 
important to keep it separate fromithe tax ,assessment process, which 
out by the local treasurer as the taxing authority on behalf of the Iqcal 
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While the grant of authoritylfor LGUs to prepare, legislate h d  
the Schedule of Market Values (SMVs, which is the basis for thk 
the real property tax) has enhanced local autonomy, traditional p 
into play as when there are 1) minimal, selective and subjecti 'e 
valuations and 2) frequent deferment of the general revisi 1 
n of 
assessments contrary to the Local Government Code's requirement of 
in every three (3) years. Valuations,used by LGUs therefore, tend to be 
and not reflective of the changes occurring within the market. 
The same is true in the use of zonal values developed by the BIR 
zonal value systems have no fixed statutory review period: the reviews 
not made on regular intervals. Moreover, Ithe four-step approval process 
consuming that by the time the zonal values have been approved, 
occurred in the property market. 
This resulted in distortions in zoral 
ranging from 25% - 70% of the prevailing land prices. 
Distortions in the LGUs' market values are relatively higher. To 
sampled properties in Metro Manila showed that the zonal values 
average 262% higher than the LGU market values. Below market 
assessment of real property leads to a relatively low tax intake and 
the generation of significant revenues from property ownership and 
Introduced by SENATOR EDGARDO J. ANCARA 
system and 
valuations has 
the use of 
uniformity 
record, it is 
s carried 
council. 
inplement 
assersment of 
litics come 
$creases on 
property 
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outdated 
Because 
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transfers. 
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EXPLANATORY NOTE 
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To ensure equity in real property taxation, the separation of the valuation 
and assessment function from tax setting and political influence is necessary. 
The establishment of an appraisal authority, responsible for regulating and 
overseeing all LCUs and NGAs’ appraisal activities, as is provided in this 
measure, will address this need. Said authority will maintain the integrity of real 
property appraisal and will ensure that a nationally consistent, equitable and 
dependable valuation system for real property taxation is in place. 
Eventually, 
this will provide a wider taxation base resulting in improved and enhanced tax 
collection, which will rightly address the fiscal woes that beset the country 
today. 
It is for these considerations that I urge my colleagues in the Chamber to 
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favor the passage of this bill. 
Senator 


THIRTEENTH CONGRESS OF THE REPUBLIC ) 
5 
MAR -7 P5:44 
OF THE PHILIPPINES 
) 
First Regular Session 
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Introduced by SENATOR EDCARDO J. ANGARA 
AN ACT INSTITUTIONALIZING REFORMS IN REAL PROPERTY APPRAISAL 
AND ASSESSMENT PRACTICES IN THE PHILIPPINES, 
CREATING FOR THE PURPOSE THE NATIONAL APPRAISAL AUTHORITY 
AND FOR OTHER PURPOSES. 
Be it enacted by the Senate and :House of Representatives in Congress 
assembled: 
CHAPTER I 
INTRODUCTORY PROVISIONS 
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Section 1. Short Title. - This Act shall be known as the “The Real 
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Property Appraisal and Assessment Reform Act of 2005.” 
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real property valuation; 
Section. 2. Declaration of Policy and Objectives. - It is the policy of the 
State to institutionalize reforms in real propertylappraisal to develop and ensure 
a just, holistic, and nationally consistent, real property valuation system, in 
conformity with the Philippine Valuation Standards developed under this Act 
and the generally accepted valuation principles 
Towards this end, the State shall: 
(a) Establish a National Appraisal Authority that shall provide a strong 
leadership in the appraisal of real property, principally for taxation; 
(b) Develop and maintain valuation standards and adopt a schedule of 
market values as 
the single real property valuation base for the 
assessment of all real property related taxes in the country and for the 
valuation of real property by all government agehcies and units requiring 


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(c) Separate the function of valuing / appraising real properties from the 
function of administering the taxes due thereon; and 
(d) Develop and professionalize the valuation practice in the country. 
Section. 3. Definition of Terms. - For purposes of this Act, the following 
terms shall, unless the context indicates otherwise, have the following meanings: 
(a) “Appraisal” 
shall 
mean providing a systematic 
and analytic 
determination, opinion or conclusion relating to the nature, quality, value 
or utility of specified interests in or aspects of property resulting in a 
supportable estimate and opinion of value of the property involved at a 
given point in time for a specific purpose; 
(b) “Appraiser” or ”Valuer;” is a person qualified by education, training, and 
experience to estimate the value of real or personal property; 
(c) “Assessor” is a person, usually a government official, or an independent 
contractor for a taxing body who estimates the assessed value of real 
estate properties for ad valorem purposes; 
(d) “Real Property” are those which cannot be removed from place to place, 
like land, including those which are attached therein, by nature or by 
people, in such a manner as to form an integral part thereof, like trees, 
buildings, machineries and other improvements; including interests, 
benefits and other real rights inherent in the ownership of real property; 
(e) “Land” refers to resources,. both natural and man-made, found on surface, 
below and above the ground including inland waters and the air therein; 
(f) “Machineries” shall 
embrace 
machines, 
equipment, 
mechanical 
contrivances, instruments, appliances or apparatus which may or may not 
be attached, permanently or temporarily, to the real property. 
(g) “Fair Market Value” or “True Value in Money” shall refer to the most 
probable price in terms of lmoney which a property should bring in a 
competitive and open market under all conditions requisite to a fair sale, 
the buyer and seller, each acting prudently, knowledgeably and without 
compulsion; 
(h) “Special Purpose Properties’( shall refer to properties which are designed, 
constructed and developed for a specific use or purpose. By its very 


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nature this type of property is rarely offered for sale in the open market 
except as part of an ongoing concern. Because of the special design and 
flinction, conversion of special purpose properties to other types of 
development or application is generally not economically feasible; 
(i) “National Appraisal Authority’’ shall be the lead agency of the 
government on matters concerning the appraisal and assessment of real 
properties in the Philippines; and 
g) “Private appraisal organization” refers to a professional organization of 
licensed real estate appraisers which has been active in the promotion 
and pursuit of its objectives for the last five (5) years. 
CHAPTER II 
ARTICLE One. CREATION, MANDATE, POWERS AND FUNCTIONS OF 
THE NATIONAL APPRAISAL AUTHORITY (NAA) 
Section. 4. Creation of the) National Appraisal Authority (NAA). - To 
achieve the policy declared in this Act, there shall be established a National 
Appraisal Authority, hereinafter referred to as the “Authority.” 
Section. 5. Mandate of the Authority. The Authority’s mandate is to‘lead 
and manage the implementation of the provisions of this Act, through the powers 
and functions set forth in Section 5 hereof. 
The Authority shall be theilead agency of the government on matters 
concerning the appraisal of real properties in the Philippines. It shall be attached 
to the Department of Finance, which attachment shall be subject to review under 
Section 36 of this Act. 
Section 6. Powers and Functions of the Authority. - The Authority shall 
exercise the following powers and functions: 
(a) 
Set valuation standards, regulations, and specifications consistent with 
generally accepted valuation standards for real property appraisal and 
ensure compliance therewith by LGUs, NGAs, and other concerned 
parties in both government and private sectors; 


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(b) 
Review and approve the Schedule of Market Values (SMVs) prepared 
by the provincial, city, and municipal assessors of Metro Manila for 
tax purposes; 
(c) 
Provide technical assistance on real property appraisal matters to 
government agencies and instrumentalities, and conduct, when 
requested, the appraisal of special purpose properties for real property 
tax purposes; 
Provide leadership and direction to local government units (LGUs), 
national government agencies (NCAs), private sector institutions and 
individuals on matters pertaining to appraisal including, but not 
limited to, the promotion of appraisal education and continuing 
educational development programs, development and maintenance of 
valuation standards, and regulation of appraisal activities; 
Develop and maintain, a database of real property transactions and 
prices of materials for buildings and other structures and machineries; 
Determine, fix, and collect such reasonable amount to be charged as 
administration fees, charges, 
~ fines, and penalties relative to the 
implementation of this Act; and 
Perform such other functions as are necessary, proper, and incidental 
to implement the provisions of this Act. 
(d) 
(e) 
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(g) 
Section. 7. Creation of an Advisory Board. - The Authority shall be 
assisted by an Advisory Board, hereinafter referred to as the "Board," composed 
of the following: 
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(1) Representative from the Department of Finance (DoF) 
(2) Representative from the Bureau of Local Government Finance (BLGF) 
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(3) Representative from the Bureau of Internal Revenue (BIR); 
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(6) The Executive Director. 
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(4) Representative from the Department of Environment anb Natural 
(5) Representative from private appraisal organizations; and 


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The President shall designate the Chairperson from among the members of 
the Board, excluding the Executive Director. 
The representatives from the concerned government agencies shall be 
designated by their respective agency heads while the representative from the 
private appraisal organizations shall be appointed by the Executive Director from 
among the list of nominees submitted by their respective organizations. The 
members shall serve for a maximum of three (3) years unless their designation or 
appointment is shortened or terminated by the designating agency, private 
appraisal organization, or Executive Director, as the case may be. 
In case of vacancy in the Board, the person so appointed or designated 
shall serve only for the unexpired term. The chairperson and members of the 
Board shall not receive additional salary for the performance of their functions 
but they shall be entitled to honoraria pursuant to existing laws and regulations. 
Section. 8. Functions of the Advisory Board. - The Board shall advise 
the Executive Director on matters pertaining to: (a) the preparation, review and 
approval of the Schedule of Market Values as found in Section 18 of this Act; 
and (b) the setting, maintenance, and compliance monitoring of the valuation 
standards prepared and developed pursuant to Section 16 of this Act. 
Section. 9. Meetings of the board. The Chair of the Advisory Board shall 
convene regular meetings of the Board, which shall be once every two (2) 
months. Special meetings may be8called by the Chair, as he / she may deem 
necessary, or at the initiative of at least five (5) members. The Board may also 
formulate and adopt its internal rules and regulations for the conduct of its 
meetings. 
ARTICLE Two. MANAGEMENT, PERSONNEL, IMPLEMENTING 
AND COORDINATING MECHANISM 
Section IO. Structural Organization. The Authority shall consist of: 
a) The Office of the Executive Director; 
b) The Office of the Deputy Director; 


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d) Field Offices. 
c) The Offices of the Regional Directors; 
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Finance. 
Section 11. The Executive Director. - The authority and responsibility 
for the exercise of the mandate of the Authority, the accomplishment of its 
objectives and the discharge of its powers and functions shall be vested in the 
Executive Director, who shall supervise the Authority and shall be appointed by 
the President of the Philippines, upon the recommendation of the Secretary of 
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The Executive Director shall be a Filipino citizen, of good moral 
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character, holder of an engineering, accounting or appraisal-related degree, and 
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a licensed appraiser or assessor, with at least ten (10) years of experience in the 
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appraisal or assessment of real properties. He or she shall have the salary grade 
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equivalent to the rank of a Director IV under the Salary Standardization Law, 
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exclusive of allowances and other emoluments. 
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For this purpose, the Executive Director shall have the following functions: 
(a) Develop policies, plans, programs, and operating standards for the 
attainment of the objectives and mandate of the Authority; 
(b) Provide policy direction and leadership as well as coordinate and 
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support the functions of the regional offices; 
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(c) Advise and assist the Secretary of Finance on matters pertaining to real 
property appraisal and assessment; and 
(d) Perform such other functions as may be provided by law. 
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Section. 12. Deputy Director. The Executive Director shall be assisted 
by at least three (3) Deputy Directors, who shall likewise be appointed by the 
President of the Philippines, upon the recommendation of the Secretary of 
Finance. 
The Deputy Director shall be a Filipino citizen, of good moral 
character, holder of engineering, accounting or appraisal-related degree, and a 
licensed appraiser or assessor, with at least five (5) years experience in the 
appraisal or assessment of real properties. He or she shall have a salary grade 
equivalent to the rank of Director 111 under the Salary Standardization Law 
exclusive of allowances and other emoluments. 
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The Executive Director is hereby authorized to delineate, assign and / or 
re-assign the respective functional areas of responsibility of the Deputy Director, 
Provided, however, That such responsibility shall be with respect to the mandate 
and objectives of the Authority; Provided, further, That no Deputy Director shall 
be assigned primarily administrative responsibilities. 
Within his functional area of responsibility, a Deputy Director shall have 
the following functions: 
a) Advise the Executive Director in the promulgation of department 
orders, administrative orders and other issuances, with respect to his 
area of responsibility; 
b) Exercise supervision over the offices, operating units and officers and 
employees under his responsibility; 
c) Exercise authority on substantive and administrative matters related to 
the functions and activities of units under his responsibility as may be 
delegated by the Executive Director; and 
d) Perform other functions as may be provided by law or assigned by the 
Executive Director. 
Section. 13. Regional Offices. - There shall be established in every 
administrative region of the 'country a Regional Office headed by a Regional 
Director who shall be appointed by the Secretary of Finance upon 'the 
recommendation of the Authority's Executive Director. The Regional Director 
shall be a Filipino citizen, #of good moral character, holder of engineering, 
accounting or appraisal-related degree, a licensed appraiser or assessor, 
with at 
least five (5) years of experience in appraisal or assessment of real property. He 
or she shall have a salary grade equivalent to Director 111 under the Salary 
Standardization Law exclusive of allowances and other emoluments. 
Section. 
14. Functions of fhe Regional Director. - The Authority's 
Regional Director shall: 
(a) Implement the ,laws, policies, plans,, programs, rules and regulations of 
the Authority in the Region; 


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(b) Provide and ensure the efficient, and effective service relating to the 
Authority's mandate to local government units and government agencies 
within the region; 
(c) Coordinate with regional offices 'of other government departments, 
bureaus, and agencies within the region dealing with real property 
appraisal and assessment; 
(d) Provide leadership and direction in the area of real property appraisal 
and assessment to local government units in the region; and 
(e) Perform other functions as may be assigned by the Executive Director. 
CHAPTER 111 
ARTICLE One. APPRAISAL AND ASSESSMENT OF PROPERTIES 
Section. 15. Development of Valuation Standards. - Notwithstanding the 
provisions of existing laws to the contrary, the Authority shall develop, maintain 
and implement uniform real property valuation standards, which shall be used 
by all appraisers and assessors alike, from both the national and local 
governments for taxation and other purposes. The valuation standards must 
conform with generally accepted valuation principles and standards. 
Section. 16. Appraisal of Real Property. - All real property, whether, 
taxable or exempt, shall be appraised at the market value prevailing in the 
locality where the property is situated, in conformity with the valuation standards 
prepared under this Act. 
The Authority shall promulgate the rules and 
regulations for the classification and appraisal of real property pursuant to the 
provisions of this Act. 
Section. 17. 
Preparation of the Schedule ofi Market Values (SMVs). - 
The Executive Director shall :determine the program of the general revisions of 
property values each year. Before any general revision of property assessment is 
made, there shall be prepared a Schedule of Fair Market Values by the 
provincial, city and the municipal assessors of the I municipalities within the 
Metropolitan Manila Area for the different classes of real property and special 


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purpose property situated within their respective local government units 
pursuant to the appraisal standards and specifications set by the Authority. 
Said schedule shall be submitted by the assessor concerned to the 
Authority's regional office for initial review and completion of the compliance 
report. Thereafter, it shall be submitted to the Authority's central office for 
approval. The Executive Director shall act within ninety (90) days after receipt of 
the said schedule and inform the Regional Director and Assessor concerned of 
any action thereon within the said period, otherwise, the said schedule shall be 
deemed approved. 
The SMV, as herein approved by the Authority, shall be used for the 
general revision of property assessments and for computing all applicable real 
property taxes imposed by both the national and local government units. Further, 
it shall be published in a newspaper of general circulation in the province, city 
or municipality concerned, or in the absence thereof, shall be posted in the 
provincial capitol, city or municipal hall and in two (2) other conspicuous public 
places therein. 
Section. 18. Revision of Schedule of Market Values. - The provincial, 
city and municipal assessors of Metro Manila shall undertake a general revision 
of the Schedule of Fair Market Values within one (1) from the effectivity of this 
Act, and every three (3) years thereafter. In the event the provincial, city or 
municipal assessor is unable to undertake the said revision, the Executive 
Director is hereby authorized to approve, after due consultation with the LGU 
concerned, the extension of the validity of the SFMV and property assessment. 
The provincial, city or municipal assessor, in Metropolitan Manila Area or 
in the province, may recommend to the Authority revisions to the SFMV, should 
there be any significant change in the market where the property is located, after 
the said SFMV has been approved and prior to its next revision. 
Section. 19. Saving Clause. - The zonal values as determined by the 
Bureau of Internal Revenue and approved by the Secretary of Finance and the 
Schedule of Fair Market Values prepared by the provincial, city assessors and 
municipal assessors of the Metropolitan Manila Area approved by their 
respective Sanggunians, shall continue to be in full force and effect, unless 
superseded, modified, revised, set aside, or repealed by the values provided 


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under the Schedule of Fair Market Values approved in accordance with Section 
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REAL PROPERTY DATABASE 
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ARTICLE Two. DEVELOPMENT AND MAINTENANCE OF 
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Section. 20. Development of Real Property Database. - The Authority 
shall develop and maintain an updated database on real property transactions in 
the country, including details on the cost of construction or renovation of 
buildings and other structures, and on the cost of machineries. For this purpose, 
the Authority is hereby authorized to require the production of necessary 
documents or to obtain information from the concerned officials or employees of 
national government offices 'or instrumentalities, local government units, and 
private sectors. 
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The updated database shall be made available to the LGUs, NCAs, and to 
the private sector as well. 
Section. 21. Duty of Registrar of Deeds to Furnish Assessors of Real 
Property Transactions Data. 1 -  The Registrar of Deeds shall prepare and submit 
to the provincial, city or municipal assessor in Metropolitan Manila Area, within 
six (6) months from effectivity of this Act and every year thereafter, an abstract of 
his registry, which shall include a brief but sufficient description of the real 
properties entered therein, their present owners, and the dates of their most 
recent transfer or alienation accompanied by copies of corresponding deeds of 
sale, donation, or partition or other forms of alienation. 
He shall also furnish the assessors copies of all contracts of sale, lease, 
mortgage, and all other forms of encumbrance registered by him /her, within 
thirty (30) days from the date of registration. 
Section. 22. Duty of Official issuing Building Permits or Certificates of 
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Registration of Machinery to Transmit Copy to the Assessor. - Any public 
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construction, addition, repair, or renovation of a building, or permanent 
including 
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official or employee required by law or regulation to issue 
improvement on land, or a certificate of registration for any mach 
ermits for the 
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machines, mechanical contrivances, and apparatus attached or affixed on land or 
to another real property, shall transmit a copy of such permit or certification 
within thirty (30) days from issuance thereof, to the assessor of the province, city 
or municipality where the property is situated. 
Section. 23. Duty of Geodetic Engineers to Furnish Copy of Plans to 
Assessors. - It shall be the duty of all geodetic engineers, public or private, to 
furnish free of charge, to the assessor of the province, city or municipality where 
the land is located with a white or blue print copy of each of all approved 
original or subdivision plans or maps of surveys executed by them within thirty 
(30) days from receipt of such approved plans from the Land Management 
Bureau (LMB), the Land Registration Authority (LRA), or the Housing and Land 
Use Regulatory Board (HLURB), as the case may be. 
Section. 24. Duty of Assessors to Transmit Documents to the Authority. 
It shall be the duty of the Assessors to transmit all data pertaining to real property 
transactions from the Registrar of Deeds to the official issuing building permit 
and from Geodetic Engineers to the Regional Office of the Authority within one 
(1) month after the receipt thereof. ,The Authority’s regional office shall record, 
and make a summary report of the data and submit the same to the Central 
Office within thirty (30) days from receipt thereof. 
Section. 25. Appointment of Assessors. - The Executive Director shall 
recommend to the Secretary of Finance the appointment of the following 
assessors, who shall be under the administrative and technical supervision of the 
Authority: 
(a) 
Provincial and Assistant Provincial Assessors and City and Assistant 
City Assessors, from the list of persons suitable and qualified for 
appointment within the region; 
Municipal and Assistant Municipal Assessors, from the list of suitable 
and qualified for appointment within the Province; and 
(b) 
(c) City and Assistant City Assessors and Municipal and Assistant 
Municipal Assessors, from the list of persons suitable and qualified for 
appointment within the Metropolitan Manila Area. 


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A Local Assessor must be a citizen of the Philippines, of good moral 
character, a resident of the region or province (for provincial or city assessor and 
municipal assessors, respectively), a licensed appraiser, 
a holder of an 
engineering, accounting or appraisal related degree, and must have experience 
in real property assessment work or in any related field for at least five (5) years, 
in the case of the provincial or city assessor and three (3) years, in the case of the 
municipal assessor. 
ARTICLE Three. TRANSITORY PROVISIONS 
Section. 26. hplemenfing Guidelines. - Within one hundred eighty days 
(180) days after the effectivity of this Act, the Authority's Central Office shall be 
organized. The President shall appoint the Executive Director and the Deputy 
Directors of the Authority, upon recommendation of the Secretary of Finance. 
The personnel of the Real Property Assessment and Local Assessment 
Operations Divisions of the Bureau of Local Government Finance (BLGF), 
including such other personnel whose functions may be necessary in the 
organization of the Authority, shall be absorbed as the Authority's core staff until 
the organizational structure and staffing pattern of the Authority shall have been 
approved. 
For this purpose, there is hereby created an A d  Hoc Committee 
composed of the Executive Directorias ex-officio chairperson and representatives 
from the DOF, BLGF, BIR, National Tax Research Center (NTRC) and Land 
Administration and Management Project (LAMP) as members. 
The A d  Hoc 
Committee shall be responsible 
~ for the formulation of the Authority's 
Organization and Implementation Plan: 
Provided, however, That the 
preparation and approval of the Authority's Organization and implementation 
Plan shall, as far as practicable, respect and ensure the security of tenure, rank 
and salary of affected government employees; 
The personnel of the concerned divisions of BLGF composing the core 
staff who may not be absorbed by the Authority shall be reassigned by the said 
office in any of its sections or divisions without diminution of the employee's 
rank, position and salary. 
As early as possible, the Executive Director shall organize the Board 
pursuant to Section 9 of this Act. 


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After the organization of the Authority’s Central Office, the Authority’s 
regional offices shall be organized taking into consideration the organizational 
criteria such as, but not limited to, availability of qualified personnel, facilities, 
budgetary support and others. 
Section. 27. Transfer of Records and Assets. - All pertinent records, 
documents, office equipment and other properties exclusively used by and/or 
assigned in, under the custody of, the affected divisions of BLGF shall be 
transferred to the Authority. 
Section. 28. Budgetary Requirements. - The amount necessary to finance 
the initial implementation of this Act shall be charged to the corresponding 
appropriations of the BLGF’s Real Property Assessment Division and Local 
Assessments Operations Division, and other divisions of the said agency where 
the other core staff came from. Thereafter, such funds as may be necessary for 
the continued implementation of this Act shall be included in the annual 
General Appropriations Act. 
ARTICLE Four 
PENAL PROVISIONS 
Section. 29. Failure /Neglect to Provide Information or Data. - Any 
government official or,employee who fails without justifiable reason/s to furnish 
any information required by the Authority, pursuant to Sections 23, 24, 25 and 
26 of this Act shall be punished byma fine equivalent to not more than three (3) 
months basic salary or suspension from service for a per’od not exceeding one 
(1) year, or both, at the discretion of the Civil Service Co J ;mission (CSC). 
Section. 30. Failure to Comply With the Valua,ion Standards. - An 
assessor or appraiser who fails to comply with the Valua ion Standards adopted 
pursuant to this Act, or deliberately conceals any deviations or departures from 
such Standards, shall be punished by a fine equivalent t not more than six (6) 
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months basic salary, and suspension from the governm 1 
nt service or from the 
practice of profession for a period not exceeding one (1) year, or permanent 
revocation of hidher license at the discretion of the competent authority. 


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d 
Section. 
31. Failure to Prepare Schedule of Market Values. - An 
assessor who intentionally refuses or fails to prepare the Schedule of Market 
Values within the period required by the Authority shall be punished, upon 
conviction, by a fine equivalent to not more than six (6) months basic salary or 
by suspension from government service for not more than one (1) year, or both, 
at the discretion of the competent authority. 
Section. 32. Violations of Other Provisions. - Any person who violates 
any provision of this Act other than those punishable under Sections 32, 33, and 
34 hereof shall, when warranted, be dealt with under the applicable existing 
laws. 
ARTICLE Five 
MISCELLANEOUS PROVISIONS 
Section. 33. Joint Congressional Oversight Committee. There is hereby 
created 
a Joint Congressional 
1 1  Oversight 
Committee to 
monitor 
the 
implementation of this Act and to review the implementing rules and regulations 
promulgated by the Authority, which shall be composed of seven (7) 
Representatives to be appointed by1 the Senate' President and the Speaker of the 
House of Representatives, respectively, within five (5) years from effectivity of 
this Act, It shall likewise review the'organizational and functional relationship of 
the Authority to other government 
~ agencies and stakeholders and shall make 
recommendations, based on its findings to the President and to both Houses of 
Congress. 
Section. 34. Implementing Rules and Regulations. The Authority shall 
prepare, promulgate and adopt the' implementing rules and regulations to carry 
out the provisions of this Act not later than 90 days after effectivity of this Act. 
Section. 35. 
Suppletory 'Application Clause. - The provisions of 
Republic Act No. 7160, otherwise known as the Local Government Code of 
1991, and other laws not inconsistent with this Act shall have suppletory effect. 
Section. 36. Repealing Clause. - All laws, presidential decrees, executive 
orders, presidential proclamations, rules and regulations or parts thereof, 


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including pertinent provisions of RA 8424, or the National Internal Revenue 
Code of 1997; Presidential Decree No. 921 #dated April 12, 1976; and RA 71 60, 
otherwise known as the “Local Governmenticode of the Philippines,” contrary to 
or inconsistent with this Act are ‘hereby repealed, superseded or modified 
accordingly . 
Section. 37. Separability Clause. - Any portion or provision of this Act 
that may be declared unconstitutional or invalid shall not have the effect of 
nullifying other portions or provisions hereof as long as such remaining portions 
or provisions can still subsist and be’given effect in their entirety. 
Section. 38. Effectivity. - This Act shall take effect fifteen (1 5) days after 
its complete publication in the Official Gazette or in two (2) newspapers of 
general circulation. 
Approved, .