New Agrarian Emancipation Act
From Wikipedia, the free encyclopedia
From Wikipedia, the free encyclopedia
The New Agrarian Emancipation Act, officially designated as Republic Act No. 11953, is a bill passed by the 19th Congress of the Philippines and signed by President Bongbong Marcos on July 7, 2023. The law frees more than 600,000 farmers from debt. The Act complements the Aquino-era Comprehensive Agrarian Reform Program, which condones farmers with awarded lands from amortizations (managed by Land Bank of the Philippines),[1] including interest and surcharges.[2] About 610,054 agrarian reform beneficiaries (ARBs) tilling 1,173,101.575 hectares (2,898,797.12 acres) of land are seen to benefit from this law.[3][4] The Philippine government will pay the remaining balance of the direct compensation due the landowners under the Voluntary Land Transfer (VLT) or the Direct Payment Scheme (DPS) amounting to ₱206.2 million.[5] The law covers ₱57.56 billion in agrarian arrears.[6]
| New Agrarian Emancipation Act | |
|---|---|
| |
| Congress of the Philippines | |
| |
| Citation | Republic Act No. 11953 |
| Territorial extent |  Philippines |
| Enacted by | House of Representatives of the Philippines |
| Enacted by | Senate of the Philippines |
| Signed by | President Bongbong Marcos |
| Signed | July 7, 2023 |
| Status: In force | |
The first-ever distribution of Certificates of Condonation with Release of Mortgage (COCROM) was held in Lingayen, Pangasinan on July 19, 2024, almost one year after the condonation law took effect.[7]
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