A total vote of 168 for and zero against, the bill granting state subsidy to national political parties and to set limits on voluntary contribution that they may receive from donors was approved by member of the House of Representatives.

House Bill 6551 or the Political Party Development Act of 2012 authored by Cavite 4th District Representative Elpidio F. Barzaga Jr., chairman of the House Committee on Suffrage and Electoral Reforms and a member of the National Unity Party said that it will institutionalize and strengthen political parties in the Philippines as the bill introduces reforms in campaign financing.

Barzaga co-authored the bill with Reps. Rufus Rodriguez (PMP, Cagayan de Oro City); Juan Edgardo Angara (LDP, Quezon); and Raymond Democrito Mendoza (TUCP Party-list).

Under the bill, voluntary campaign contribution for political parties will be limited to P1 million from any donating “natural person” and up to P10 million if given by “juridical persons.”

A penalty of P100,000 to P500,000 and imprisonment of not less than 5 years but not more than 5 years awaits anyone who violates the bill.

All financial assistance given is subject for auditing by the Commission on Audit (COA).

Source: http://manilarepublic.com/subsidy-for-political-parties-approved/8000/