An Act Mandating The Annual Public Disclosure Of All Contingent Liabilities Incurred By All National Government Agencies, Local Government Units, Government-Owned Or -Controlled Corporations, Government Financial Institutions, And Other Government Instrumentalities

• This bill requires the annual public disclosure of government’s contingent liabilities at least a month prior to the submission of the annual budget documents by the President to Congress. 
• It will provide Members of Congress and other stakeholders with a better appreciation of the fiscal and monetary impact of the government’s contingent liabilities on future government spending. 
• Prudent fiscal management warrants the establishment of a stronger legal and institutional framework in apprising the public about the obligations and risks involved in public-private partnership in public service delivery.