President Benigno Aquino III has signed into law four measures, including a law that grants a P100,000 cash incentives and additional benefits and privileges to each Filipino centenarian, a week before he bows out of office.
Also included in the newly enacted laws is the NBI Reorganization and Modernization Act (RA 10867), said Communications Secretary Herminio Coloma Jr.
Coloma said the Centenarians Act does not carry the provision about the 75 percent VAT exemption which was the objectionable feature of the enrolled bill when it was first submitted to the president and vetoed in the 15th Congress. “©”©
Republic Act 10868 was approved by Aquino last June 23, said Albay Rep. Edcel Lagman, the measure’s primary proponent in the House of Representatives.
Under RA 10868, all Filipinos who reach the age of 100 will receive a letter of felicitation from the president of the Philippines and a P100,000 cash gift, whether they are residing in the Philippines or abroad.
They will also be awarded with a plaque of recognition and additional cash gift from their respective city or municipal governments during the National Respect for Centenarians Day, which is set on Sept. 25 of every year.
Lagman said an estimated 3,500 Filipinos aged 100 and older will benefit from the enactment of the Centenarian Act.
Lagman said he is grateful for Aquino for signing the bill into law before he steps down on June 30.
“Just in the nick of time! I must say it was really a long wait but it was well worth the wait,” he said.
“[On] behalf of all the co-authors of the Centenarians Act, I would like to thank our President for giving it the green light at last,” the lawmaker added.
In 2013, Aquino vetoed a bill giving additional benefits to centenarians because of a provision mandating businesses to grant a 75-percent discount on goods and services to customers aged 100 and older.
Malacañang said the clause was “too heavy” for business entities to shoulder.