Augmentation of Fund for CARP Implementation

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, allocated specifically for financing production credits, infrastructure, and related support services.
Income and collections generated from agrarian reform operations and programs by CARP implementing agencies.
A portion of official foreign aid grants and concessional financing to the Philippines earmarked for production financing, credits, infrastructure, and support services.
Yearly appropriations of no less than Three billion pesos (P3,000,000,000.00) from the General Appropriations Act.
Other government funds not otherwise appropriated.

The Act mandates that funds be appropriated to ensure the full implementation of CARP until the year 2008.
It provides a clear ceiling on the additional appropriation to prevent excessive or uncontrolled disbursements.
Specifies the use of various government and foreign resources to augment the funding necessary for agrarian reform.

The Act takes effect fifteen (15) days after its publication in at least two newspapers of general circulation.

This law is an amendment to Section 63 of Republic Act No. 6657 (CARP Law of 1988).
It consolidates Senate Bill No. 2170 and House Bill No. 4808.
Passed by the Senate on February 4, 1998, and by the House of Representatives on February 13, 1998.
Approved by the President of the Philippines on February 23, 1998.

The Act reinforces the government’s commitment to fund comprehensive agrarian reform adequately.
It underscores the use of recovered ill-gotten wealth and privatized assets as sources of agrarian reform funds.
Strengthens fiscal mechanisms to ensure sustained agrarian reform activities.
Emphasizes government accountability in allocating and using funds specifically for agrarian reform goals.