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AGRARIAN LAW Agrarian Reform Fund and shall likewise be considered automatically

appropriated for the purpose authorized in this Order.


X. FINANCING THE PROGRAM
3. Republic Act No. 8532 February 23, 1998
1. Republic Act No. 6657 June 10, 1988 AN ACT STRENGTHENING FURTHER THE COMPREHENSIVE
AN ACT INSTITUTING A COMPREHENSIVE AGRARIAN REFORM AGRARIAN REFORM PROGRAM (CARP), BY PROVIDING
PROGRAM TO PROMOTE SOCIAL JUSTICE AND AUGMENTATION FUND THEREFOR, AMENDING FOR THE
INDUSTRIALIZATION, PROVIDING THE MECHANISM FOR ITS PURPOSE SECTION 63 OF REPUBLIC ACT NO. 6657,
IMPLEMENTATION, AND FOR OTHER PURPOSES OTHERWISE KNOWN AS "THE CARP LAW OF 1988"
CHAPTER XIV Be it enacted by the Senate and House of Representatives of the
Financing Philippines in Congress assembled:
Section 63. Funding Source. — The initial amount needed to Section 1. Sec. 63 of Republic Act No. 6657, otherwise known as the
implement this Act for the period of ten (10) years upon approval Comprehensive Agrarian Reform Law of 1988 is hereby amended to
hereof shall be funded from the Agrarian Reform Fund created under read as follows:
Sections 20 and 21 of Executive Order No. 229. "Sec. 63. Funding source. – The amount needed to implement this
Additional amounts are hereby authorized to be appropriated as and Act until the year 2008 shall be funded from the Agrarian Reform
when needed to augment the Agrarian Reform Fund in order to fully Fund.
implement the provisions of this Act. "Additional amounts necessary for this purpose are hereby
Sources of funding or appropriations shall include the following: authorized to be appropriated in excess of the initial funds,
(a) Proceeds of the sales of the Assets Privatization Trust; amounting to Fifty billion pesos (P50,000,000,000.00) provided under
(b) All receipts from assets recovered and from sales of ill-gotten Sections 20 and 21 of Executive Order No. 229.
wealth recovered through the Presidential Commission on Good "The additional amount hereby authorized to be appropriated shall in
Government; no case exceed Fifty billion pesos (P50,000,000,000.00).
(c) Proceeds of the disposition of the properties of the Government in "Sources of funding or appropriations shall include the following:
foreign countries; "a) Proceeds of the sales of the Assets Privatization Trust;
(d) Portion of amounts accruing to the Philippines from all sources of "b) All receipts from assets recovered and from sales of ill-gotten
official foreign grants and concessional financing from all countries, wealth recovered through the Presidential Commission on Good
to be used for the specific purposes of financing production credits, Government;
infrastructures, and other support services required by this Act; "c) Proceeds of the disposition of the properties of the Government in
(e) Other government funds not otherwise appropriated. foreign countries, for the specific purposes of financing production
All funds appropriated to implement the provisions of this Act shall be credits, infrastructure and other support services required by this Act;
considered continuing appropriations during the period of its "d) All income and collections arising from the agrarian reform
implementation. operations, projects and programs of CARP implementing agencies;
Section 64. Financial Intermediary for the CARP. — The Land Bank "e) Portion of amounts accruing to the Philippines from all sources of
of the Philippines shall be the financial intermediary for the CARP, official foreign aid grants and concessional financing from all
and shall insure that the social justice objectives of the CARP shall countries, to be used for the specific purposes of financing
enjoy a preference among its priorities. production, credits, infrastructures, and other support services
required by this Act;
2. EXECUTIVE ORDER NO. 229 July 22, 1987 "f) Yearly appropriations of no less than Three billion pesos
PROVIDING THE MECHANISMS FOR THE IMPLEMENTATION OF (P3,000,000,000.00) from the General Appropriations Act;
THE COMPREHENSIVE AGRARIAN REFORM PROGRAM "g) Other government funds not otherwise appropriated."
CHAPTER V. FINANCING Section 2. This Act shall take effect within fifteen (15) days following
Sec. 20. Agrarian Reform Fund. As provided in Proclamation No. 131 the completion of its publication in at least two (2) newspapers of
dated July 22, 1987, a special fund is created, known as The general circulation.
Agrarian Reform Fund, an initial amount of FIFTY BILLION PESOS Approved: February 23, 1998
(P50 billion) to cover the estimated cost of the CARP from 1987 to
1992 which shall be sourced from the receipts of the sale of the 4. REPUBLIC ACT No. 9700 August 7, 2009
assets of the Asset Privatization Trust (APT) and receipts of sale of AN ACT STRENGTHENING THE COMPREHENSIVE AGRARIAN
ill-gotten wealth recovered through the Presidential Commission on REFORM PROGRAM (CARP), EXTENDING THE ACQUISITION
Good Government and such other sources as government may AND DISTRIBUTION OF ALL AGRICULTURAL LANDS,
deem appropriate. The amount collected and accruing to this special INSTITUTING NECESSARY REFORMS, AMENDING FOR THE
fund shall be considered automatically appropriated for the purpose PURPOSE CERTAIN PROVISIONS OF REPUBLIC ACT NO. 6657,
authorized in this Order. OTHERWISE KNOWN AS THE COMPREHENSIVE AGRARIAN
Sec. 21. Supplemental Appropriations. The amount of TWO BILLION REFORM LAW OF 1988, AS AMENDED, AND APPROPRIATING
SEVEN HUNDRED MILLION PESOS (P2.7 billion) is hereby FUNDS THEREFOR
appropriated to cover the supplemental requirements of the CARP for Section 21. Section 63 of Republic Act No. 6657, as amended, is
1987, to be sourced from the receipts of the sale of ill-gotten wealth hereby further amended to read as follows:
recovered through the Presidential Commission on Good "SEC. 63. Funding Source. - The amount needed to further
Government and the proceeds from the sale of assets by the APT. implement the CARP as provided in this Act, until June 30, 2014,
The amount collected from these sources shall accrue to The upon expiration of funding under Republic Act No. 8532 and other
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pertinent laws, shall be funded from the Agrarian Reform Fund and "(g) Gratuitous financial assistance from legitimate sources; and
other funding sources in the amount of at least One hundred fifty "(h) Other government funds not otherwise appropriated.
billion pesos (P150,000,000,000.00). "All funds appropriated to implement the provisions of
"Additional amounts are hereby authorized to be appropriated as and this Act shall be considered continuing appropriations
when needed to augment the Agrarian Reform Fund in order to fully
during the period of its implementation: Provided, That
implement the provisions of this Act during the five (5)-year extension
period. if the need arises, specific amounts for bond
"Sources of funding or appropriations shall include the following: redemptions, interest payments and other existing
"(a) Proceeds of the sales of the Privatization and Management obligations arising from the implementation of the
Office (PMO); program shall be included in the annual General
"e)All receipts from assets recovered and from sales of ill-gotten Appropriations Act: Provided, further, That all just
wealth recovered through the PCGG excluding the amount
compensation payments to landowners, including
appropriated for compensation to victims of human rights violations
under the applicable law; execution of judgments therefore, shall only be sourced
"(c) Proceeds of the disposition and development of the properties of from the Agrarian Reform Fund: Provided, however,
the Government in foreign countries, for the specific purposes of That just compensation payments that cannot be
financing production credits, infrastructure and other support services covered within the approved annual budget of the
required by this Act; program shall be chargeable against the debt service
"(d) All income and, collections of whatever form and nature arising
program of the national government, or any
from the agrarian reform operations, projects and programs of the
DAR and other CARP implementing agencies; unprogrammed item in the General Appropriations
"(e) Portion of amounts accruing to the Philippines from all sources of Act: Provided, finally, That after the completion of the
official foreign. aid grants and concessional financing from all land acquisition and distribution component of the
countries, to be used for the specific purposes of financing CARP, the yearly appropriation shall be allocated fully to
productions, credits, infrastructures, and other support services support services, agrarian justice delivery and
required by this Act:
operational requirements of the DAR and the other
"(f) Yearly appropriations of no less than Five billion pesos
(P5,000,000,000.00) from the General Appropriations Act; CARP implementing agencies."