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LAWMAKERS resumes its sessions today (January 18), with the House of Representatives and Senate promising to push forward two key bills: Corporate Recovery and Tax Incentives for Business (CREATE) and Amendments to the Anti-Money Laundering Act (Amla) 2001— to its logical end, since it is about reforms long sought by the Executive.
House Majority Leader Martin G. Romualdez said Sunday that the lower house, under the leadership of President Lord Allan Velasco, will continue to work twice as long to pass the Duterte administration’s legislative agenda, including economic reforms that would help the government in its response to Covid-19. .
Romualdez, chair of the House Rules Committee, said the House leadership will work on the immediate approval of CREATE, which is now in the deliberations of the bicameral conference; and amendments to the Republic Law 9160 or Amla.
“These [CREATE and Amla amendments] they are administrative measures that the Department of Finance classified as vital to our economic recovery program. We will immediately harmonize the differences between the versions of the Senate and the House during the bicameral conferences, ”said Romualdez.
“Once enacted into law, the CREATE bill will definitely provide businesses, particularly micro, small and medium-sized enterprises (MSMEs), one of the largest economic stimulus measures in the country’s history to help them recover from the economic crisis caused by the Covid-19 Pandemic ”, he added.
Coconut trust fund, property titles
According to Majority Leader Zubiri, who chairs the Rules Committee, the Senate’s legislative priority will focus on the ratification of the bicameral committee’s reports on CREATE, the Coco Farmers Trust, as well as the Confirmation of imperfect land titles. .
“We will also approve the amendments to the AMLA in third reading,” he said, adding: “In addition, we will promote measures that have been approved in third reading but do not have a counterpart approved by the House of Representatives, such as: establishment of penitentiary facilities separated for those convicted of heinous crimes; protect children by prohibiting and outlawing child marriage; create a National Transportation Safety Board; the establishment of the Philippine Institute for Energy Policy and Research; Authorize the Department of Agriculture to use annual tariff revenues in excess of P10 billion under RA 11203 for direct monetary assistance to farmers who own 1 hectare or less of rice land until 2024.
Zubiri added: “We will also begin discussions and debates on the amendments to the Retail Trade Liberalization Law; increase the age of the rape of minors; amendments to the Public Services Law; creation of the OFW Department; Electronic governance law; Law of separation, retirement and pensions of the services of military and uniformed personnel; Expanded Single Parents Law and Internet Transactions Law.
CREATE invoice
House Ways and Means Committee Chairman Joey Sarte Salceda said the bicameral conference committee on CREATE will reconcile the Senate and House versions of the bill this month.
Romualdez said the Amla amendments must be approved before February for the Philippines to avoid being included in the Financial Action Task Force’s so-called gray list.
House Bill 7904, which seeks to amend the Anti-Money Laundering Act of 2001, as amended, will protect and preserve the integrity and confidentiality of bank accounts and ensure that the Philippines is not used as a site. of money laundering for the proceeds of any illegal activity. exercise.
“We need all of these laws if we want to recover from the economic ravages caused by the Covid-19 pandemic,” he said.
CREATE is now pending in the bicameral conference committee, while the Amla amendments were approved by the House in third and final reading last December, and are pending third reading approval in the Senate.
SONA invoices
In addition, Romualdez said that the House is scheduled to approve in the third and final reading the expanded Parents Solo law, which is part of the priority measures of President Duterte’s (Sona) Speech on the State of the Nation.
Romualdez said that the Chamber has already transmitted to the Senate the following priority measures from Sona: HB 00304 or Law on Tax Liabilities to Income and Financial Intermediary (PIFITA); HB 04664 or the Real Estate Appraisal Assessment; HB 06134 o Mandatory banking institutions to strengthen the financing system for agricultural, fisheries and rural development in the Philippines; HB 78 or the Amendments to the Public Service Law; HB 05832 or the Department of Filipinos Abroad and Foreign Employment Act (DFOFE); HB 05989 or the Department of Disaster Resilience (DDR); HB 07406 or the Fire Protection Office Modernization Act; and HB 07805 or the Internet Transactions Law / Electronic Commerce Law.
