Question & AnswerQ&A (Republic Act No. 8532)
The primary purpose of Republic Act No. 8532 is to strengthen further the Comprehensive Agrarian Reform Program (CARP) by providing an augmentation fund for its implementation and amending Section 63 of Republic Act No. 6657.
Section 63 of Republic Act No. 6657, otherwise known as the Comprehensive Agrarian Reform Law of 1988, is amended by Republic Act No. 8532.
The maximum additional amount authorized to be appropriated for the implementation of CARP under RA 8532 is Fifty billion pesos (P50,000,000,000.00).
The funding is guaranteed until the year 2008 for the implementation of this Act.
Sources of funding include proceeds from sales of the Assets Privatization Trust, receipts from assets recovered and sales of ill-gotten wealth through the Presidential Commission on Good Government, proceeds from the disposition of government properties abroad, income and collections from agrarian reform operations, portions of official foreign aid grants and concessional financing, yearly appropriations of no less than P3 billion from the General Appropriations Act, and other government funds not otherwise appropriated.
The minimum yearly appropriation mandated is no less than Three billion pesos (P3,000,000,000.00).
Funding for infrastructure, production credits, and other support services required by CARP can be derived from the disposition of government properties abroad and portions of official foreign aid grants and concessional financing.
Republic Act No. 8532 was approved by then-President Fidel V. Ramos.
RA 8532 takes effect within fifteen (15) days following its publication in at least two newspapers of general circulation.
CARP implementing agencies involved in agrarian reform operations, projects, and programs are the ones whose income and collections can be used as a source of funding.