President Ferdinand Marcos Jr. is set to sign the Maharlika Investment Fund and the Estate Tax Amnesty Extension bills into law on Tuesday next week (July 18), days before he delivers his second State of the Nation Address.
Senate President Juan Miguel Zubiri said this was disclosed by the Presidential Legislative Liaison Office.
The Palace has yet to issue a statement to confirm the schedule.
Mr. Marcos, who had certified the MIF bill as urgent, previously said he would sign the proposed measure as soon as he got it.
The Estate Tax Amnesty Extension, another Palace-certified urgent measure, will extend the period of availment under the program by two years, or up to June 14, 2025.
Budget Secretary Amenah Pangandaman earlier said the President willsign the Maharlika bill before his SONA on July 24.
Finance Secretary Benjamin Diokno said the implementing rules and regulations of the Maharlika Investment Fund are in its final stages.
The final version of the Maharlika bill addresses the issues concerning MIF’s capitalization and management, explicitly prohibiting government agencies and government-owned and controlled corporationsthat provide for social security and public health insurance (of government employees, private sector workers and employees, and other sectors and subsectors) to contribute to and invest in the Fund.
These include, but are not limited to, the Social Security System, Government Service Insurance System, Philippine Health Insurance Corp., Home Development Mutual Fund, Overseas Workers Welfare Administration, and Philippine Veterans Affairs Office.