Authorized Sources of Funding
- The sources of funding for CARP implementation include:
- Proceeds from sales by the Assets Privatization Trust.
- Receipts from recovered assets and sales of ill-gotten wealth recovered through the Presidential Commission on Good Government.
- Proceeds from disposal of Philippine government properties abroad, earmarked specifically for production credits, infrastructure, and other support services related to CARP.
- All income and collections from agrarian reform operations and programs implemented by CARP agencies.
- Portions of official foreign aid grants and concessional financing received by the Philippines, which are designated for production financing, infrastructural development, and support services under CARP.
- Annual appropriations not less than Php 3 billion from the General Appropriations Act.
- Other government funds not otherwise appropriated.
Implementation Period
- The funding provisions apply for the implementation of CARP until the year 2008.
Enactment and Effectivity
- The Act took effect 15 days after its publication in at least two newspapers of general circulation.
- It was approved by the President on February 23, 1998, following its passage by the Senate and House of Representatives.
Legal and Institutional Framework
- This amendment strengthens the financing framework of CARP, ensuring a sustained and adequate flow of funds.
- It reflects government efforts to secure diverse and reliable sources of financing to support agrarian reform objectives.
- The law consolidates Senate Bill No. 2170 and House Bill No. 4808 into a single legislative measure enhancing Section 63 of RA 6657.