15 March 2004 - With the adjournment of sessions last 6 February, several bills have now been signed into law such as the Optical Media Act (RA 9255) and the Rationalization of Documentary Stamp Tax (RA 9243) but a lot more await approval in the bicameral conference committee and the ratification of either the House of Representatives or the Senate.

Most of these bills are included in the Legislative and Executive Development Advisory Council's (LEDAC) priority agenda, which are needed to institutionalize reforms, expedite processes in government and augment government revenues. Included in the LEDAC list approved on bicameral conference committee are the Alternative Dispute Resolution Act, Securitization Act, and the Clean Water Act which are all about to lapse into law if the President does not take action on them.

Still pending bicameral deliberations are the amendments to the PDIC Charter, the Farmland as Loan Collateral Act and the bill clarifying Tax Exemption of Offshore Banking Units and Foreign Currency Deposits.

Other bills pending in conference committee are the Extension of Support for Agriculture and Fisheries Modernization; Strengthening Legal Positions in the Department of Justice, Architecture Act; Customs Brokers Act, the Domestic Shipping Development Act and amendments to RA 6657 (Comprehensive Agrarian Reform Law).

Congress will reconvene on 24 May to canvass the vote returns of the 10 May elections.