MANILA, Philippines — The House of Representatives on Monday passed on third and final reading a measure that would legislate the establishment of a levy trust fund for coconut farmers.
Voting 221-6-0, the lower chamber approved House Bill No. 8136 or the proposed Coconut Farmers and Industry Trust Fund Act.
Under the proposed measure, the trust fund will be managed by a board that will craft plans on the utilization of the tax collected from coconut farmers. The tax collection was estimated to have already grown to over P100 billion today.
Bill sponsor Quezon 1st District Rep. Wilfrido Mark Enverga earlier said the utilization of the trust fund will be “in accordance with the…
Keep on reading: House finally approves coco levy trust fund bill