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Republic of the Philippines CONGRESS OF THE PHILIPPINES FIFTEENTH CONGRESS Second Regular Session HOUSE BILL NO. 6085

INTRODUCED BY HON LORENZO 'ERIN' R. TAÑADA III ________________________________________________________________________ AN ACT ORDAINING THE PROMOTION AND DEVELOPMENT OF SOCIAL ENTERPRISES IN ORDER TO ENSURE POVERTY REDUCTION, PROVIDING THE MECHANISMS THEREFOR, AND FOR OTHER PURPOSES

CHAPTER I TITLE, POLICIES AND OBJECTIVES SECTION 1. Short Title. – This Act shall be known as the “Magna Carta for Social Enterprises of 2012”. It may alternatively be cited as the Poverty Reduction Through Social Entrepreneurship (PRESENT) Act of 2012”. SECTION 2. Declaration of Policy and Statement of Objectives - It is hereby declared the policy of the State to promote a just and dynamic social order that will ensure the prosperity and independence of the nation and free the people from poverty through policies that provide adequate social services, promote full employment, a rising standard of living, and an improved quality of life for all. It is likewise declared a policy of the State that the goals of the national economy are a more equitable distribution of opportunities, income, and wealth; a sustained increase in the amount of goods and services produced by the nation for the benefit of the people; and an expanding productivity as the key to raising the quality of life for all, especially the underprivileged and that, in the pursuit of these goals, all sectors of the economy and all regions of the country shall be given optimum opportunity to develop. Private enterprises, including corporations, cooperatives, and similar collective organizations, shall be encouraged to broaden the base of their ownership. Further, all economic agents shall contribute to the common good and that individuals and private groups, including corporations, cooperatives, and similar collective organizations, shall have the right to own, establish, and operate economic...