Senate ratifies bicam reports on three bills
Credit to Author: Alexander Magno| Date: Wed, 06 Feb 2019 15:01:46 +0000
MANILA, Philippines — Senate ratified several bicameral conference committee reports on Wednesday.
Senate ratified the bicameral committee report on disagreeing provisions of Senate Bill No. 1532 and House Bill No. 8862 — the Innovative Start-Up Act.
Once it becomes law, the measure will allow innovative startups to enjoy exemption from fees and charges for the use of equipment, facilities and other services from government agencies, such as testing and fabrication facilities.
It also offers a provision for Ten Billion-Peso Innovative Startup Venture Fund, administered by the Department of Science and Technology, for entrepreneurs.
Senate also ratified and adopted the bicameral committee report on disagreeing provisions of Senate Bill No. 1534 and House Bill No. 8734 — which seeks to amend the Magna Carta for Scientists, Engineers, Researchers and other S&T Personnel in the Government.
The measure seeks to amend retirement and salary benefits for scientists and other science and technology personnel.
Finally, the Senate ratified the bicameral committee report on the Student Fare Discount Act, which ensures the mandatory grant of fare discount to students.
Once ratified by the Senate and the House of Representatives, the bills would then be transmitted to President Rodrigo Duterte for his signature. /atm