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New Agrarian Emancipation Act

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New Agrarian Emancipation Act

Congress of the Philippines
Long title An Act Emancipating Agrarian Reform Beneficiaries from financial burden by condoning all principal loans, unpaid amortizations and interests and exempting payment of Estate Tax on agricultural lands awarded under the Comprehensive Agrarian Reform Program
Citation	Republic Act No. 11953
Territorial extent	Philippines
Enacted by	House of Representatives of the Philippines
Enacted by	Senate of the Philippines
Signed by	President Bongbong Marcos
Signed	July 7, 2023
Status: In force

The New Agrarian Emancipation Act, officially designated as Republic Act No. 11953, is a bill passed by the 19th Congress of the Philippines and signed by President Bongbong Marcos on July 7, 2023. The law frees more than 600,000 farmers from debt. The Act complements the Aquino-era Comprehensive Agrarian Reform Program, which condones farmers with awarded lands from amortizations (managed by Land Bank of the Philippines),^[1] including interest and surcharges.^[2] About 610,054 agrarian reform beneficiaries (ARBs) tilling 1,173,101.575 hectares (2,898,797.12 acres) of land are seen to benefit from this law.^[3]^[4] The Philippine government will pay the remaining balance of the direct compensation due the landowners under the Voluntary Land Transfer (VLT) or the Direct Payment Scheme (DPS) amounting to ₱206.2 million.^[5] The law covers ₱57.56 billion in agrarian arrears.^[6]

References[edit]

^ Macapagal, Jed (July 13, 2023). "Govt to expedite processing of P43B agrarian reform loans". Malaya Business Insight. Retrieved July 15, 2023.

^ "Marcos enacts debt forgiveness law for 610k farmers". Philstar.com. July 7, 2023. Retrieved July 7, 2023.

^ Manahan, Job (July 7, 2023). "Marcos signs law condoning P57-billion debt of agrarian reform beneficiaries". news.abs-cbn.com. ABS-CBN News. Retrieved July 7, 2023.

^ Crisostomo, Sheila (July 9, 2023). "New Agrarian Emancipation law hailed". The Philippine Star. Retrieved July 15, 2023.

^ Bajo, Anna Felicia (July 7, 2023). "Marcos signs New Agrarian Emancipation Act". GMANetwork.com. GMA News Online. Retrieved July 7, 2023.

^ Gita-Carlos, Ruth Abbey (July 7, 2023). "PBBM signs New Agrarian Emancipation Bill into law". pna.gov.ph. Philippine News Agency. Retrieved July 7, 2023.