The principal loan of ₱14.5 billion, including interests, penalties and surcharges of 263,622 ARBs, tilling 409,206.91 hectares of agrarian reform lands, whose names and other loan details were already submitted by the Land Bank of the Philippines to Congress, shall be condoned outright.
Also, under the bill, all cases related to the nonpayment of loans of ARBs with the DAR shall be dismissed motu proprio and that ARBs will be exempted from payment of estate tax.
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