Bill Type
Congress Name
Long Title
AN ACT ESTABLISHING THE SPECIAL ENVIRONMENTAL AND REHABILITATION FUND (SERF) THROUGH REVENUES DERIVED FRON LARGE-SCALE MINING OPERATIONS OF MINING COMPANIES AND REQUIRING FOR SUCH PURPOSE THE ONE-TIME RETENTION OF TWENTY PERCENT (20%) OF OPERATING CAPITAL PRIOR TO COMMENCEMENT OF MINING OPERATIONS AND THE ANNUAL RETENTION OF THIRTY PERCENT (30%) OF PROFITS FROM SAID COMPANIES IN LOCAL BANKS OR FINANCIAL INSTITUTIONS OWNED AND MANAGED BY THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES, PROVIDING THE NECESSARY MECHANISMS FOR ITS IMPLEMENTATION AND FOR OTHER PURPOSES
Date filed
May 11, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB04315 |
| FULL TITLE : AN ACT ESTABLISHING THE SPECIAL ENVIRONMENTAL AND REHABILITATION FUND (SERF) THROUGH REVENUES DERIVED FRON LARGE-SCALE MINING OPERATIONS OF MINING COMPANIES AND REQUIRING FOR SUCH PURPOSE THE ONE-TIME RETENTION OF TWENTY PERCENT (20%) OF OPERATING CAPITAL PRIOR TO COMMENCEMENT OF MINING OPERATIONS AND THE ANNUAL RETENTION OF THIRTY PERCENT (30%) OF PROFITS FROM SAID COMPANIES IN LOCAL BANKS OR FINANCIAL INSTITUTIONS OWNED AND MANAGED BY THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES, PROVIDING THE NECESSARY MECHANISMS FOR ITS IMPLEMENTATION AND FOR OTHER PURPOSES |
| SHORT TITLE : SERF Act of 2005 |
| ABSTRACT : "SERF Act of 2005". The bill calls for the establishment of a Special Environmentand Rehabilitation Fund (SERF) to be used exclusively for the following: a) the rehabilitation of areas affected by large-scale mining operations, b) the building of houses and the restoration of parks and other structures affected by mining operations, c) the implementation of educational and health programs, d) support to wildlife conservation, and e) creation of scholarship grants for children of families in areas affected by mining operations. |
| PRINCIPAL AUTHOR/S : PINGOY, ARTHUR "DODO" JR. Y. M.D. |
| DATE FILED : 2005-05-11 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Gidaya (003 ) |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON NATURAL RESOURCES ON 2005-05-17 |
Abstract
"SERF Act of 2005". The bill calls for the establishment of a Special Environmentand Rehabilitation Fund (SERF) to be used exclusively for the following: a) the rehabilitation of areas affected by large-scale mining operations, b) the building of houses and the restoration of parks and other structures affected by mining operations, c) the implementation of educational and health programs, d) support to wildlife conservation, and e) creation of scholarship grants for children of families in areas affected by mining operations.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.