Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR A CEILING ON ALL PUBLIC DEBTS OF THE REPUBLIC OF THE PHILIPPINES AND FOR OTHER PURPOSES
Date filed
July 5, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB00792 |
| FULL TITLE : AN ACT PROVIDING FOR A CEILING ON ALL PUBLIC DEBTS OF THE REPUBLIC OF THE PHILIPPINES AND FOR OTHER PURPOSES |
| SHORT TITLE : "Public Debt Ceiling Act of 2007" |
| ABSTRACT : "Public Debt Ceiling Act of 2007". The bill provides for the following: a) a debt ceiling equivalent to 5% of the country's GNP; b) concurrence of Congress if the debt ceiling is to be exceeded; c) foreign loans shall be contracted or guaranteed solely to finance economic and social infrastructure programs; and d) the concurrence of the Senate in bilateral agreement involving official assistance such as grants and commodity credit arrangements or indebtedness. |
| PRINCIPAL AUTHOR/S : DEFENSOR, ARTHUR D. |
| DATE FILED : 2007-07-05 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE |
| COMMITEE HEARINGS/ACTIONS: |
| 1. Referred to Stakeholders on 2008-04-09 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON APPROPRIATIONS ON 2007-07-31 |
Abstract
"Public Debt Ceiling Act of 2007". The bill provides for the following: a) a debt ceiling equivalent to 5% of the country's GNP; b) concurrence of Congress if the debt ceiling is to be exceeded; c) foreign loans shall be contracted or guaranteed solely to finance economic and social infrastructure programs; and d) the concurrence of the Senate in bilateral agreement involving official assistance such as grants and commodity credit arrangements or indebtedness.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.