Photo Release

June 15, 2024

Lawmakers witness PBBM signing of NIR and Real Property Valuation Reform laws: Senators, led by Senate President Francis “Chiz” G. Escudero, posed for a photo with President Ferdinand "Bongbong" Marcos Jr. after witnessing the signing of law creating the Negros Island Region (NIR) and the Real Property Valuation and Assessment Reform Act Thursday, June 13, 2024.

Marcos' signing of the two laws is expected to enhance local governance efficiency and effectiveness in the Visayas by establishing the Negros Island Region, as well as promote transparency, enhance investor confidence, and ensure uniform valuation standards for real property assets.

"These two pieces of legislation reflect our commitment to improving local governance and fostering economic growth. I commend President Marcos and my colleagues in Congress for their unwavering support and dedication to these transformative measures," said Escudero.

Marcos and Escudero were joined by Senate Majority Leader Francis “Tol” Tolentino, Deputy Majority Leader Mark Villar, Senators Joseph Victor Ejercito and Win Gatchalian, Interior and Local Government Secretary Benhur Abalos, Executive Secretary Lucas Bersamin, Finance Secretary Ralph Recto, Speaker Martin Romualdez and Deputy Speaker Aurelio Gonzales. (📷 Joseph B. Vidal/ Social Media Unit)