LEDAC expects approval of 28 priority bills by June 2025

By means of Kyle Aristophere T. Atienza, News reporter

AT LEAST five new bills have been added to the Marcos administration’s list of priority legislation expected to be approved by Congress before June 2025, including proposals to allow foreign investors to lease land for up to 99 years and amend a 2019 law that liberalized the rice sector.

In a statement, the National Economic and Development Authority (NEDA) said the Legislative-Executive Development Advisory Council (LEDAC) on Tuesday agreed to prioritize the passage of 28 bills before the end of the 19th century.^e Congress in June 2025.

Of the 28 bills, 18 are considered “top priority,” while 10 are only “second priority.”

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

Among the new additions to the “top priority” list are the proposed changes to the Long-Term Lease Act of 2018 for foreign investors, which aims to allow foreigners to lease private land (excluding agricultural land) for a period of maximum 99 years from 75 years. years.

Another top priority is the amendments to the Rice Tariff Act of 2020.

The House of Representatives last month approved on its final reading the bill amending the 2020 law that gave the private sector full control over rice imports amid rising prices of the staple food.

Under the bill, lawmakers seek to give the National Food Authority the authority to use existing rice supplies to supply areas experiencing shortages or price increases. It also allows the NFA to purchase local milled rice or import rice directly in some cases. The bill also seeks to increase the amount of the Rice Competitive Enhancement Fund (RCEF) from P10 billion to P15 billion.

Also a top priority is the bill introducing reforms in the Philippine capital markets, which, according to NEDA, “seeks to facilitate capital raising for Philippine companies through the stock market and increase the value of pension funds investing in the Philippine stock market by reducing taxes on stock transactions lowering and equalizing dividend tax.”

The House of Representatives approved May on the third and FUltimately, it is a measure aimed at reforming capital markets by reducing taxes on share transactions.

Another top priority is the proposed Archipelagic Sea Lanes Act, which will “strengthen the country’s sovereignty over its archipelagic waters and maritime resources.”

Also added to the LEDAC list, but considered a “second priority” is the proposal to amend the Comprehensive Agrarian Reform Act of 1998 by removing restrictions on ownership and transfer of land granted under the Comprehensive Agrarian Reform Program .

Also included in LEDAC’s top 18 priority actions is the bill to amend the Right-of-Way Act to expedite the implementation of infrastructure projects.

The bill to impose duties on single-use plastics was also included in the priority measures, as the government struggles to Find more sources of income to finance social services and infrastructure projects.

The proposed rationalized mining FThe iscal regime, which aims to impose margin-based royalties and a windfall profits tax on mining companies, and the bill amending the Electric Power Industry Reform Act (EPIRA) were also included on the priority list.

The Partners for Affordable and Reliable Energy previously said lawmakers should amend EPIRA to give regulators the power to revoke franchises of underperforming concessionaires.

The CREATE MORE bill, which aims to further reduce taxes on domestic and foreign companies, was also included in LEDAC’s top 18 priority bills, along with the bill that seeks to impose a value-added tax on digital services and the measure that a Ministry of Water Resources.

Eight of the LEDAC’s 18 key bills that are already in “advanced stages” are amendments to the Government Procurement Reform Act and the proposed Anti-Agricultural Economic Sabotage Act, Anti-Financial Accounts Scamming Act, Self-Reliant Defense Posture Revitalization Act, Philippine Maritime Zones Act, and the New Government Audit Code.

The ARAL bill, which aims to establish a national learning intervention program in response to the deteriorating quality of Philippine education, is also among LEDAC’s top priorities.

The Philippines ranks 77th^e among 81 countries in the 2022 Program for International Student Assessment (PISA), with Filipino students aged 15 performing poorly in math, reading and science compared to students from other countries.

“The priority bills mainly relate to infrastructure and tax revenues. Unfortunately, none of these bills focus on education and human capital development,” Ateneo de Manila economics professor Leonardo A. Lanzona said in a Facebook Messenger chat.

“In light of recent studies indicating that Filipinos are only achieving 52% of their potential and are below average PISA scores, there is a need to work towards improving the education sector which is crucialFaffects the future of the country,” he added.

Meanwhile, NEDA said bills earmarked as “second priority” for passage include the proposal to amend the Agrarian Reform Act and the Philippine Immigration Act, as well as the proposed Blue Economy Act, Enterprise-Based Education and Training Framework Act and Open Access in Data Transmission Act. .

The Waste Energy Act and the proposed mandatory reserve OffIcers’ Training Corps, UniFThe IED system of separation, retirement and pension of military and uniformed personnel, the E-Government Act/E-Governance Act are also considered second priority bills – measures that the Senate President said “need further clarification ”.Fication.”

Speaker of the House of Representatives Ferdinand Martin G. Romualdez said that 25 of the 28 bills passed within the 19^e Congress “is already in the final stages and has been approved” by the House of Representatives.

“We are committed to adopting the remaining three of the 28 measures mentioned at our LEDAC meeting,” he said.

Upper House Senate President Francis Joseph Guevara Escudero has already passed three of the 20 bills slated for passage in June, such as the Philippine Ecosystem and Natural Capital Accounting System Act, the Negros Island Region Act and the Real Property Valuation and Assessment Reform Act .

“The new priority list rightly focuses on economic bills that should boost economic growth given concerns about inflation and lagging wages of ordinary Filipino workers,” said Terry L. Ridon, a public investment analyst and former lawmaker.

“Agrarian law changes should fully address the concerns of land reform beneficiaries regarding post-coverage disenfranchisement, as this defeats the original purpose of redistributing rural wealth,” he added.