Zubiri signs enrolled bill on Maharlika Investment Fund | Inquirer News

Zubiri signs enrolled bill on Maharlika Investment Fund

By: - Reporter / @BPinlacINQ
/ 01:21 PM June 21, 2023

SENATE ADJOURNS SINE DIE: At the last session day of the First Regular Session, Senate President Juan Miguel "Migz" F. Zubiri highlights the accomplishments of the Upper Chamber, saying that the body responded to the needs of the people and the challenges of the times. In his closing speech before the Senate adjourns sine die, Wednesday, May 31, 2023, Zubiri emphasized that it is only through "hard work and high purpose" that the body approved 31 landmark bills and more than 70 resolutions in the first year of the 19th Congress. "While this scoreboard shows the quantity of our input, it cannot even begin to describe the quality of each. True to our tradition, we do not agree to proposals without discussion, nor embrace ideas without debate," the Senate chief said. Zubiri also expressed his gratitude to all of his colleagues, recognizing that each member has properly accomplished his or her part in honoring their mandate. "We will return with high-impact legislation. When we meet again in this hall, let it be with greater determination and a renewed commitment to perform the duties that the Republic and our people expect us to," Zubiri added. (Senate PRIB photos)

File photo of Senate President Juan Miguel “Migz” Zubiri  (Senate PRIB photos)

MANILA, Philippines — Senate President Juan Miguel Zubiri on Wednesday signed an “enrolled” copy of the controversial Maharlika Investment Fund.

This brings the measure a step closer to the Malacañang for the approval and signing of President Ferdinand “Bongbong” Marcos Jr.


Aside from the Maharlika bill, Zubiri also signed the enrolled bills for the extension of estate tax amnesty and the recognition of Baler, Aurora as the birthplace of Philippine surfing.

“The Maharlika bill is a priority measure, and the Estate Tax Amnesty Extension is very time-sensitive. Marami nang naghihintay sa mga bills na ito (Many people are waiting for these bills),” Zubiri said in a statement on Wednesday.

According to the Senate website, an enrolled bill is the final copy of the proposed measure, which has been certified as correct by the Secretary of the Senate and the Secretary General of the House of Representatives.

It must be signed by the House Speaker and the Senate President.

How the chamber addressed the conflicting Sections 50 and 51 of the Congress-approved Maharlika bill, which set the prescription period for crimes at 10 years and 20 years, has yet to be clarified.

Zubiri just said, “I believe the corrections were thoroughly discussed by the majority bloc in our Viber group, including the letter of correction sent by Senator Mark Villar.”


Members of the media have repeatedly sought a copy of Villar’s letter of correction since June 6.

The bill sponsor’s office has yet to provide a copy of the document.

Zubiri also said more details about the bills should be directed to Senate Secretary Renato Bantug Jr.

“Secretary Bantug will answer all that for you. Please message him directly,” he requested.

According to Zubiri, Bantug brought the enrolled bills with him to the United States.

Zubiri and a Philippine Senate contingent are also in Washington for official business.

Senator Francis Tolentino and Philippine Ambassador to the United States Babe Romualdez witnessed Zubiri sign the bills at the Philippine Embassy in Washington.

“He (Bantug) was able to bring them along with him instead of letting them sit in the Senate, waiting for my return, and I was able to sign them on Philippine soil,” the Senate President said.

Zubiri noted that this meant no extra expense for the Philippine government since Bantug was originally part of the Senate delegation on a US working visit.

What now?

Zubiri said the Maharlika bill, which was certified as urgent by the President, will be sent to the House of Representatives for the signature of Speaker Ferdinand Martin Romualdez.

Romualdez, the cousin of President Marcos, was among the main proponents of the measure in the chamber.

Only after the Maharlika bill is signed by both the Senate President and the House Speaker can it be sent to the Palace.

Meanwhile, Zubiri said the Estate Tax Amnesty bill – another measure tagged as urgent – is set to be sent to the President for his signature.

The estate tax amnesty program already lapsed on June 14.

Should Marcos sign the plan into law, taxpayers will have an additional two years until June 14, 2025, to take advantage of the estate tax amnesty.


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TAGS: bills, Bongbong Marcos, Maharlika, MIF, Zubiri

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