Expiration of Presidential Authority Under Bayanihan to Recover as One Act
- President's powers to reprogram, reallocate, realign savings under RA 11494 expire on December 19, 2020.
- Authority scope includes savings in Executive Department appropriations under the 2020 GAA.
Extension of Validity of Fund Allotments
- Department of Budget and Management (DBM) allotments for fund releases under Section 10 of RA 11494 automatically extended per this Act.
Applicability to Local Government Units and Government Financial Institutions
- Fund releases to LGUs and GFIs for programs under Section 10 of RA 11494 remain valid until June 30, 2021.
- Balances under LGU and GFI releases from 2020 GAA savings governed by applicable 2020 GAA provisions.
Allotment Releases from the Standby Fund
- Appropriations under the standby fund in Section 10 of RA 11494 available until June 30, 2021, subject to conditionalities therein.
Formulation of Implementing Rules and Regulations
- DBM, in coordination with implementing agencies, tasked to formulate rules and regulations for effective implementation immediately upon effectivity.
Repealing Clause
- Provisions of RA 11494 and other laws, decrees, orders, or regulations inconsistent with this Act are repealed or modified accordingly.
Effectivity
- The Act takes effect 15 days after publication in the Official Gazette or a newspaper of general circulation.