An Act to Extend the Utilization Period of the Agricultural Competitiveness Enhancement Fund, Amending for the Purpose Republic Act No. 8178, as Amended Entitled ‘An Act Replacing Quantitative Import Restrictions On Agricultural Products, Except Rice, With Tariffs, Creating The Agricultural Competitiveness Enhancement Fund And For Other Purposes’

• This Bill seeks an extension of the Fund utilization period for five (5) years until 2020
• The Land Bank of the Philippines (LBP) shall administer and manage the Fund. The LBP and the Executive Committee of the ACEF shall organize an ACEF Project Management Office in the LBP for this purpose consisting of organic staff of the LBP

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STATUS:

• Submitted jointly by the Committee(s) on AGRICULTURE AND FOOD and FINANCE per Committee Report No. 251, recommending that it be substituted by Senate Bill No. 2951;
• Substituted by Senate Bill No. 2951 under Committee Report No. 251
• Sponsor: Senator Cynthia A. Villar
• Sponsorship Speech of Senator Ralph G. Recto on September 23, 2015
• Approved and signed into law, in consolidation with House Bill No. 6162 by the President of the Philippines, His Excellency, President Benigno S. Aquino III on May 23, 2016 and became Republic Act No. 10848

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