The Committee on Cooperatives Development of the House of Representatives chaired by Rep. Cresente Paez (COOP-NATCCO partylist) has unanimously approved the consolidated version of several bills which seek to expand benefits for cooperatives and strengthening the agency tasked to regulate them.

Paez, who is allied with the National Unity Party through the Coalition for Peace and Development, said the consolidated bill, if signed into law, will repeal Republic Act 6939 or the Charter of the Cooperative Development Authority (CDA).

The consolidated measure aims to strengthen the CDA while,  at the same time, providing more benefits to cooperatives, Paez noted.

The measure, for instance, will ease the process for cooperatives  availing themselves of  tax exemption privileges because the certificate of registration of a cooperative will constitute the sole legal basis for full enjoyment of tax exemption. The Certificate of Good Standing (CGS) will no longer be required, Paez said.

"This measure also strengthens the supervisory and regulatory powers of the CDA. We clothed CDA with additional powers to mediate, conciliate and or arbitrate disputes within and between cooperatives," said Paez.

House Bills 276, 463, 493, 1219, 2391 and 2665 were consolidated by the  Paez-led panel and referred to the Committee on Rules for second reading.

The counterpart bill in the Senate, authored by Sen. Ferdinand “Bongbong” Marcos Jr., is expected to be passed on second reading this week.

The Paez committee, together with the Senate Committee on Cooperatives led by Sen. Marcos, conducted joint public hearings in Cebu City and Davao City last year to gather the opinion and sentiments of stakeholders on the proposed reforms in the cooperatives sector.