Declaration of Policy
- Urgent response needed to mitigate COVID-19 transmission and economic disruption.
- Mobilization of assistance to families and individuals, especially indigents.
- Prevent overburdening healthcare system and provide extensive healthcare services.
- Implement social amelioration and safety nets for affected sectors.
- Ensure adequate funding and partnerships with private sector.
- Protect collective Filipino interests during the pandemic.
Authorized Powers of the President
- Adopt WHO guidelines for COVID-19 prevention, detection, and treatment.
- Streamline testing accreditation and ensure prompt isolation and treatment.
- Cover COVID-19 treatment costs under PHIC.
- Provide emergency subsidies to 18 million low-income households based on regional wages.
- Grant COVID-19 special risk allowance and hazard pay to health workers.
- Provide compensation for health workers contracting or dying from COVID-19.
- Ensure LGUs comply with national policies and allow use of calamity funds over 5% limit.
- Direct operation or temporary occupation of private hospitals, vessels, and facilities with compensation and oversight.
- Enforce measures against hoarding, profiteering, and anti-competitive practices.
- Expedite clearance of donated health products and procure essential supplies exempt from procurement laws.
- Partner with Red Cross for aid distribution and hire temporary health workers with hazard pay.
- Ensure credit availability to productive sectors and incentivize importation of critical healthcare supplies.
- Regulate transportation, traffic, and alternative work arrangements.
- Reprogram and realign government funds to address COVID-19 response.
- Move statutory deadlines and mandate grace periods for loan payments and rents.
- Enhance social amelioration programs including Pantawid Pamilyang Pilipino Program expansion.
- Lift cap on quick response funds from calamity funds.
- Undertake other reasonable measures to achieve the national policy.
Reporting and Oversight
- Weekly President’s report to Congress on acts and fund utilization.
- Joint Congressional Oversight Committee with equal members from Senate and House.
- Committee to ensure compliance with restrictions and guidelines.
Penalties for Non-Compliance
- Imprisonment up to 2 months or fines from P10,000 to P1,000,000, or both, for:
- LGU officials disobeying quarantine directives.
- Hospital owners refusing to operate when directed.
- Hoarding, profiteering, manipulating prices, and other anti-competitive acts.
- Refusal to prioritize contracts or provide mandated grace periods.
- Spreading false information or scams related to COVID-19.
- Violating transportation operation restrictions.
- Impeding public access or maintaining illegal encroachments.
- Additional penalties for corporate officials and public officials including disqualification from office.
Interpretation and Construction
- Act shall not impair constitutional provisions.
- In case of conflict with other laws, this Act’s provisions prevail.
Separability Clause
- Invalidity of part of the Act does not affect the rest.
Effectivity
- Immediate effect upon publication.
- Valid for three months unless extended or revoked earlier.
Implementing Rules and Regulations for Grace Period on Loan Payments
- Title: Implementation of Section 4(aa) regarding loan payment grace periods.
- Purpose: Prescribe guidelines and procedures for loan payment relief during ECQ.
- Definitions:
- Covered Institutions: Banks, non-banks, financial institutions, government agencies including GSIS, SSS, Pag-IBIG.
- Loan Amortization: Scheduled periodic payments.
- ECQ Period: March 17 to April 12, 2020, or its extension.
- Due Date: Loan maturation or interest due within ECQ.
- Mandatory 30-day grace period for loan payments due during ECQ without penalties or interest on interest.
- Automatic extension of grace period if ECQ extended.
- Prohibition on requiring borrower waivers from grace period rights.
- Scope includes all loans to individuals, MSMEs, corporations.
- Grace period applies separately to multiple loans per borrower.
- Relief excludes additional documentary stamp taxes on credit extensions and restructuring.
- Accrued interest during grace period payable over remaining loan term or in lump sum afterwards.
- Violations subject to penalties under Bayanihan Act and existing laws.
- Rules take effect immediately upon publication with separability of invalid provisions.
This comprehensive outline captures the key provisions, scope, procedures, penalties, and policy directives under the Bayanihan to Heal As One Act and its implementing rules on loan grace periods.