Fourteenth Congress First Regular Session
Begun and held in Metro Manila, on Monday, the twenty-third day of July, two thousand seven.
Republic Act No. 9496 February 28, 2008
AN ACT TO EXTEND THE UTILIZATION PERIOD OF THE AGRICULTURAL COMPETITIVENESS ENHANCEMENT FUND, AMENDING REPUBLIC ACT NO. 8178, ENTITLED "AN ACT REPLACING QUANTITATIVE IMPORT RESTRICTIONS ON AGRICULTURAL PRODUCTS, EXCEPT RICE, WITH TARIFFS, CREATING THE AGRICULTURAL COMPETITIVENESS ENHANCEMENT FUND, AND FOR OTHER PURPOSES"
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1
Section 8 of Republic Act No. 8178, entitled "An Act Replacing Quantitative Import Restrictions on Agricultural Products, Except Rice, With Tariffs, Creating the Agricultural Competitiveness Enhancement Fund, and for Other Purposes" is hereby amended, to read as follows:
"Section 8. Agricultural Competitiveness Enhancement Fund.- To implement the policy enunciated in this Act, there is hereby created the Agricultural Competitiveness Enhancement Fund, hereinafter referred to as the Fund. The Fund shall consist of all duties collected from the importation of agricultural products under the minimum access volume (MAV) mechanism, including unused balances and collections form repayments from loan beneficiaries including interests, if any. The Fund shall be automatically credited to Special Account 183 in the General Fund of the National Treasury: Provided, That fund releases shall not be subject to any ceiling by the Department of Budget and Management (DBM). "The Fund shall continue to be set aside up tot he year 2015, after which the collection of duties from the MAV mechanism and the setting aside of the amount collected for the purpose shall terminate. However, any remaining balance(s) at the date of expiration of the Fund shall not revert to the General Fund but shall continue to be used for the purpose for which it was collected and set aside. "The Fund shall be set aside and earmarked by Congress:
Section 2
The Department of Agriculture, in consultation with the Congressional Oversight Committee on Agricultural and Fisheries Modernization (COCAFM), shall forthwith revise and reform its implementing guidelines including the approval procedures in order to speed up the processing and disbursement process and, in coordination with the Philippine Information Agency, shall ensure the widest information dissemination possible of this Act.
The Department of Agriculture with the concurrence of the Congressional Oversight Committee on Agricultural and Fisheries Modernization shall draw up a prioritization plan for the optimum utilization of the Fund.
Section 3. Repealing Clause
Republic Act No. 8178 is hereby amended. All laws, decrees, executive issuances, rules and regulations inconsistent with this Act are hereby repealed or modified accordingly.
Section 4. Separability Clause
The Provisions of this Act are hereby declared to be separable and, in the event one (1) or more of such provisions are held unconstitutional, the validity of the other provisions shall bot be affected thereby.
Section 5. Effectivity
This Act shall take effect immediately upon its approval.
Approved,
MANNY VILLAR
President of the Senate
JOSE DE VENECIA JR.
Speaker of the House of Representatives
For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.