JUNE 25, 2024

The Legislative-Executive Development Advisory Council (LEDAC) has agreed to prioritize the passage of 28 bills under the Common Legislative Agenda (CLA) within the 19th Congress or by June 2025.

The LEDAC, chaired by President Ferdinand R. Marcos Jr. and composed of representatives from the Senate, the House of Representatives, and the Cabinet, is a high-level advisory body that sets the legislative priorities of the government.

In its meeting on Tuesday (June 25), LEDAC approved 18 bills as top priority, eight of which are already in advanced stages in the legislative process, and ten bills as second priority for passage.

Seven priority bills introduced by the economic team have been included in the top priority list. These are:

  1. Amendments to the Right-of-Way Act to expedite the implementation of critical infrastructure projects by streamlining the right-of-way acquisition;
  2. Excise Tax on Single-Use Plastics to encourage sustainable consumption and production, and reduce plastic waste generation;
  3. Rationalization of the Mining Fiscal Regime to enable the nation to better reap the benefits of the Philippines’ rich mineral resources by introducing a straightforward and streamlined fiscal policy;
  4. Amendments to the Electric Power Industry Reform Act (EPIRA) to accelerate national efforts toward a more energy-secure country;
  5. CREATE MORE Act to improve the current regulations by enhancing the tax and administrative incentives available to companies, and clarifying rules on implementing VAT incentives;
  6. The Department of Water Resources to institutionalize a primary agency responsible for comprehensive and integrated water resources development and management; and
  7. VAT on Digital Services to ensure an equal playing field between local and foreign digital service providers while expanding the VAT base.

“The timely passage of these bills is critical in strengthening the country’s economic governance and ensuring that we are on track in implementing infrastructure flagship projects and maintaining fiscal sustainability,” NEDA Secretary Arsenio M. Balisacan said.

The Amendments to the Foreign Investors’ Long Term Lease Act, as introduced by newly elected Senate President Francis Escudero, was also included in the top priority list. The bill seeks to reinforce the opening of the economy to foreign investments by extending the lease of private lands (excluding agricultural lands) to foreigners from a maximum of 75 years to 99 years.

The Council also included in the top priority list the proposal of House Speaker Martin Romualdez on the reforms in the Philippine Capital Markets. These reforms seek to facilitate capital raising for Filipino companies through the stock market and boost the value of pension funds invested in the Philippine stock market by reducing taxes on stock transactions and equalizing the dividend tax.

Furthermore, the LEDAC also approved the inclusion of the Archipelagic Sea Lanes Act in the top priority list, a complementary measure to the Philippine Maritime Zones Act, to strengthen the country’s sovereignty over its archipelagic waters and maritime resources.

Balisacan called for greater cooperation between the Executive and Legislative branches to develop consensus versions of the priority measures.

“We thank the leadership of both houses of Congress for their commitment to fast-track the passage of these important measures. These bills represent our concerted effort to shape the nation’s economic governance, foster growth, and ensure a prosperous future for all Filipinos,” Balisacan said.

 

–END–

 

ANNEX: List of the approved priority bills for passage before the end of the 19th Congress (as of June 25, 2024)

TOP PRIORITY

  1. Reforms to Philippine Capital Markets
  2. Archipelagic Sea Lanes Act
  3. Amendments to the Right-of-Way Act
  4. Excise Tax on Single-Use Plastics
  5. Rationalization of the Mining Fiscal Regime
  6. Amendments to the Electric Power Industry Reform Act (EPIRA)
  7. Department of Water Resources
  8. CREATE MORE Act
  9. Amendments to the Foreign Investors’ Long-Term Lease Act
  10. Amendments to the Rice Tariffication Law

IN ADVANCED STAGES

  1. Anti-Agricultural Economic Sabotage Act
  2. Amendments to the Government Procurement Reform Act
  3. Anti-Financial Accounts Scamming Act
  4. Self-Reliant Defense Posture Revitalization Act
  5. Philippine Maritime Zones Act
  6. Academic Recovery and Accessible Learning (ARAL) Program Act
  7. VAT on Digital Services
  8. New Government Auditing Code

SECOND PRIORITY

  1. Blue Economy Act
  2. Enterprise-Based Education and Training Framework Act
  3. Amendments to the Universal Health Care Act
  4. Open Access in Data Transmission Act
  5. Waste-to-Energy Bill
  6. Mandatory Reserve Officers’ Training Corps (ROTC)
  7. Unified System of Separation, Retirement and Pension of Military and Uniformed Personnel
  8. E-Government Act / E-Governance Act
  9. Amendments to the Agrarian Reform Law
  10. Philippine Immigration Act

Source: neda.gov.ph (Media Release)