HB07735: Enacted into law "RA11203" on Feb. 14, 2019 | AN ACT LIBERALIZING THE IMPORTATION, EXPORTATION AND TRADING OF RICE, LIFTING FOR THE PURPOSE THE QUANTITATIVE IMPORT RESTRICTION ON RICE, AND FOR OTHER PURPOSES
This bill proposes replacing quantitative import restrictions on rice with tariffs, aiming to protect local farmers while ensuring food security. This shift to tariffs will generate revenue for the government and support programs to enhance the competitiveness of the local rice industry.
The most beneficial provision of this bill is the creation of the Rice Competitiveness Enhancement Fund. This fund will be used to support local rice farmers through various programs, including technology development, access to financing, scholarships, and research, ensuring the long-term viability and competitiveness of the local industry.