04 September 2003 -- In its meeting last 30 July 2003, the Legislative
Executive Development Advisory Council (LEDAC) drew up 20 priority
bills. Among these, two urgent bills have already been approved
by the President since the opening of the third regular session
of Congress. These are the Rationalization of Excise Tax on
Automobiles (RA 9224) and the Citizenship Retention and Re-acquisition
Act of 2003 (RA 9225). Still to get the Chief Executive's nod
is the Rationalization of Judiciary Compensation which is still
undergoing bicameral deliberations. Pending on second reading
in the Senate after being approved by the House of Representatives
are the Farmland as Collateral, TRANSCO franchise, rationalization
of documentray stamp tax, Optical Media Act, Securitization
Act, Department of Housing and Urban Development Act, tax incentives
on capital equipment and alternative dispute resolution.Undergoing
committee deliberations in both chambers are the Land Administration
Reform Act and the Debt Cap of 2003. Other priority bills in
the LEDAC list are the quarantine program of SARS, National
Revenue Administration, reforms in campaign finance, indexation
of sin taxes, compensation to human rights victims, operationalization
of Gross Receipt Tax on banks and financial institutions and
Anti-terrorism Act.
Congress is scheduled to go on recess next week (13 September
2003) and will resume regular sessions on 6 October 2003.
