HB 1993
House·20th Congress·Filed Jul 16, 2025
An Act Expanding the Power of Local Government Units to Create Indebtedness and to Enter into Credit and Other Financial Transactions, Amending for the Purpose Republic Act No. 7160, as Amended, Otherwise Known as the "Local Government Code of 1991," and for Other Purposes
In plain language
The bill would let local government units borrow money to pay for staff salaries and operating costs when their internal revenue allotment falls, but only for up to five years.
Local Government
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Author · Representative
Official sources
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HB01993 · Sources: BetterGov Open Congress, BatasWatch