Leyte Rep. Richard Gomez. FILE PHOTO
MANILA, Philippines — Leyte Rep. Richard Gomez has commended President Ferdinand Marcos Jr. for signing into law Republic Act 11953, or the New Agrarian Emancipation Act, that seeks to wipe out bank loans obtained by farmer-beneficiaries of the government’s agrarian reform program.
READ: ‘Emancipation’: P58-B land reform debts wiped out
Gomez, the author of House Bill No. 5314, among the bills deliberated by the House of Representatives, expressed his enthusiasm for enacting the New Agrarian Emancipation Act.
He stated his confidence that this law would ameliorate the struggles faced by farmers, providing a much-needed boost to the agriculture industry and ensuring food security for the nation.
“I am thrilled that the New Agrarian Emancipation Act has been signed into law. I am confident that this legislation would help improve the plight of our farmers and give the needed boost to the agriculture industry and ensure food security to our nation,” Gomez said.
In filing HB 5314, the lawmaker acknowledged that “despite the passage of more than 30 years since the Comprehensive Agrarian Reform Act, many agrarian reform beneficiaries (ARBs) continue to grapple with the burden of paying off the required amortization to secure land ownership.”
RA 11953, signed by the President on July 7, absolves all loans, including interest, penalties, and surcharges incurred by ARBs who were granted land under Presidential Decree (PD) 27, RA 6657 (the Comprehensive Agrarian Reform Law of 1988), and RA 9700 (which extended the acquisition and distribution of agricultural lands under the Comprehensive Agrarian Reform Program or CARP).
According to existing agrarian laws, ARBs must make annual amortization payments for 30 years to acquire the awarded land.
RA 11953 is expected to cover agrarian arrears totaling P57.56 billion and will benefit 610,054 ARBs cultivating a combined land area of 1,173,101.57 hectares.