Leyte Rep. Richard I. Gomez has commended President Marcos Jr. for signing into law Republic Act 11953, or the New Agrarian Emancipation Act, that seeks to wipe out bank loans obtained by farmer-beneficiaries of the government’s agrarian reform program.

Gomez is the author of House Bill No. 5314, which was among the bills considered by the House of Representatives in its version of the measure.

“I am thrilled that the New Agrarian Emancipation Act has been signed into law. I am confident that this legislation would help improve the plight of our farmers and give the needed boost to the agriculture industry and ensure food security to our nation,” Gomez said.

He added: “I am looking forward to the implementation of this law. This gives hope to our farmers that soon, they will be the rightful owners of the lands that they have been tilling for decades, and that they would no longer be bound to serve and kowtow to the demands of wealthy landowners.”

In filing HB 5314, the lawmaker has noted that “it has been over thirty years since the Comprehensive Agrarian Reform Act (was passed), yet many agrarian reform beneficiaries (ARBs) still struggle to pay off all the amortization required to transfer in their names.”

RA 11953, which was signed by the President last July 7, condones all loans, including interests, penalties, and surcharges incurred by ARBs from land awarded to them under Presidential Decree (PD) 27, RA 6657, or the Comprehensive Agrarian Reform Law of 1988, and RA 9700, which extended the acquisition and distribution of agricultural lands under the Comprehensive Agrarian Reform Program (CARP).

Under existing agrarian laws, ARBs are required to pay for the lands awarded to them in annual amortization for a maximum of 30 years.

RA 11953 would cover P57.56 billion in agrarian arrears and is expected to benefit 610,054 ARBs who are tilling a total of 1,173,101.57 hectares of awarded land.