Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office)

Albay 2nd district Rep. Joey Salceda knows a way to expedite the enactment of the proposed law extending the availment period of estate tax amnesty: skipping the bicam procedure.

Salceda says he will recommend the adoption by the House plenary of the Senate's version of the Estate Tax Amnesty Extension Bill once it is approved on third and final reading by the upper chamber.

The House of Representatives gave final approval to its version of the measure last May 15.

“No more bicam for that one. No need, anyway. House Ways and Means Committee concurs with the provisions of the Senate version,” Salceda, the committee chairman, said.

Normally, the House and Senate subjects a certain measure under a Bicameral Conference Committee meeting in order to iron out differences between their respective versions of the measure.

But this would take time, and lawmakers are chasing the bill's enactment before the June 15, 2023 deadline of the estate tax amnesty period under the original law, Republic Act (RA) No.11213 or the "Tax Amnesty Act".

Add to this the impending sine die adjournment of the first regular session on June 2.

On top of the House version’s provisions – which extend the Estate Tax Amnesty period to June 2025 – the Senate version also extends the period of deaths covered to May 2022.

The Senate version also provides for electronic filing of estate tax amnesty applications, and limits the number of documents required for filing.

“We agree. So, we will move for adoption. If they can transmit by Monday (May, 29), we will ratify by Monday. Anyway, I expect the House to wait for the Senate’s formal transmittal the whole day Monday,” Salceda added.

“This is a most urgent priority for the House leadership, so, you can count on immediate adoption by the House once we receive the formal transmittal from the Senate. We have also been in constant communication with my Senate counterpart, Senator [Sherwin] Gatchalian, to hammer out any style issues.”

The Senate also shortened the period for issuing the implementing rules and regulations to 30 days, from 60 days.

“We will get what we want – enactment before SONA. And they (Senate) will get what they want: their additional provisions. All’s well that ends well. A congressional majority working for the people," the Bicolano said.

Salceda earlier estimated that as much as 920,000 Filipino families have unsettled estates that could benefit from the amnesty.