Agrarian Reform Special Fund Act
← President Ferdinand Marcos (1961-1965)
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1. Pre-Martial Law (First term, 1965-69)
➢ The Agricultural Land Reform Code continued to be implemented by Marcos.
➢ Second term (1969-73)
- Congress amended the Agricultural Land Reform Code
❖ Agrarian Reform Special Fund Act (R.A. No. 6390) was passed.
AN ACT TO ACCELERATE THE IMPLEMENTATION OF THE AGRARIAN REFORM PROGRAM BY CREATING AN AGRARIAN REFORM SPECIAL ACCOUNT IN THE GENERAL FUND, PROVIDING THE NECESSARY FUNDS THEREFOR, AND FOR OTHER PURPOSES
Section 1. Purpose. - It is hereby declared to be the purpose of this Act to accelerate the attainment of the objectives set forth in Republic Act Numbered Three thousand eight hundred and forty-four, otherwise known as the Agricultural Land Reform Code, as amended, by providing an immediate source of funds to finance the Agrarian Reform Program of the government, transferring certain assets of the National Government to augment the capital base of the Land Bank, involving the active participation of rural banks in a program of supervised credit by creating an Agricultural Guarantee Fund, providing counterpart funds for existing and new rural banks and prescribing certain requirements and conditions to stimulate the continuous establishment of cooperatives among those who actually till and work upon the land.
Section 2. Creation of Agrarian Reform Special Account in the General Fund. - To carry out the purpose of this Act, there is hereby created in the General Fund an Agrarian Reform Special Account, hereinafter referred to as the Account, which shall be used exclusively to finance the Agrarian Reform Program of the government.
Section 3. Financial Source of the Account. - The Account shall be constituted out of a portion of the proceeds of the stabilization tax collected under Republic Act Numbered Six thousand one hundred twenty-five, as amended in Section four of this Act.
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1. Pre-Martial Law (First term, 1965-69)
➢ The Agricultural Land Reform Code continued to be implemented by Marcos.
➢ Second term (1969-73)
- Congress amended the Agricultural Land Reform Code
❖ Agrarian Reform Special Fund Act (R.A. No. 6390) was passed.
AN ACT TO ACCELERATE THE IMPLEMENTATION OF THE AGRARIAN REFORM PROGRAM BY CREATING AN AGRARIAN REFORM SPECIAL ACCOUNT IN THE GENERAL FUND, PROVIDING THE NECESSARY FUNDS THEREFOR, AND FOR OTHER PURPOSES
Section 1. Purpose. - It is hereby declared to be the purpose of this Act to accelerate the attainment of the objectives set forth in Republic Act Numbered Three thousand eight hundred and forty-four, otherwise known as the Agricultural Land Reform Code, as amended, by providing an immediate source of funds to finance the Agrarian Reform Program of the government, transferring certain assets of the National Government to augment the capital base of the Land Bank, involving the active participation of rural banks in a program of supervised credit by creating an Agricultural Guarantee Fund, providing counterpart funds for existing and new rural banks and prescribing certain requirements and conditions to stimulate the continuous establishment of cooperatives among those who actually till and work upon the land.
Section 2. Creation of Agrarian Reform Special Account in the General Fund. - To carry out the purpose of this Act, there is hereby created in the General Fund an Agrarian Reform Special Account, hereinafter referred to as the Account, which shall be used exclusively to finance the Agrarian Reform Program of the government.
Section 3. Financial Source of the Account. - The Account shall be constituted out of a portion of the proceeds of the stabilization tax collected under Republic Act Numbered Six thousand one hundred twenty-five, as amended in Section four of this Act.