SECTION 1. Extension of the Availability of Appropriations. - The appropriations authorized under Republic Act No. 11494 or the "Bayanihan to Recover as One Act" which includes, among others, the automatic appropriations of new programs, projects, and activities pursuant to Section 4 thereof, shall be available for release, obligation and disbursement until June 30, 2021: Provided, That the appropriations sourced from reprogrammed, reallocated or realigned savings in Republic Act No. 11465 or the 2020 GAA for programs and projects for COVID-19 interventions shall be valid for release, obligation and disbursement in accordance with the provisions of the 2020 GAA: Provided, further, That the use of such appropriations shall continue to be governed by the provisions of Section 4 of the Bayanihan to Recover as One Act. The special and general provisions of the 2020 GAA shall be suppletory thereto provided it is not inconsistent with the said provision.

The balances of fund transfers between agencies, instrumentalities and government-owned and controlled corporations which, while obligated, remain unused unutilized, unexpended, and undisbursed as of June 30, 2021 shall revert to the umappropriated surplus of the General Fund.

Agency outsourcing requests or agreements by agencies, instrumentalities and/or government-owned and controlled corporations with Philippine International Trading Corporation shall not be allowed. Any balances of fund transfers in the books of the Philippine International Trading Corporation shall revert to the unappropriated surplus of the General Fund upon effectivity of this Act.

SEC. 2. Expiration of the President's Authority Granted Under the Bayanihan to Recover As One Act. - The authority of the President to exercise powers granted under the Bayanihan to Recover as One Act, including the authority to reprogram, reallocate, and realign from savings on the items in the appropriations of the Executive Department in the 2020 GAA, can only be exercised until December 19, 2020 pursuant to Section 18 thereof.

SEC. 3. Validity of Allotment. - The validity of Advices of Allotments issued by the Department of Budget and Management (DBM) for fund releases charged against Section 10 of the Bayanihan to Recover as One Act shall automatically be extended in accordance with Section 1 of this Act.

SEC. 4. Applicability to Local Government Units (LGUs) and the Government Financial Institutions (GFIs). - The fund releases to the LGUs, and GFIs for programs, projects and activities enumerated in Section 10 of the Bayanihan to Recover as One Act shall be valid for release, obligation, and disbursement until June 30, 2021, except for the balances of the fund releases to the LGUs and GFIs sourced from savings in the 2020 GAA which shall be governed by the applicable provisions of the 2020 GAA.

SEC. 5. Allotment Releases from the Standby Fund. - Appropriations covered by the standby fund as provided in Section 10 of the Bayanihan to Recover as One Act shall be available for release, obligation and disbrusement up to June 30, 2021, subject to the fulfillment of the conditionalities stipulated under the same section of the Bayanihan to Recover as One Act.

SEC. 6. Implementing Rules and Regulations. - Immediately after the effectivity of this Act, the Department of Budget and Management shall, in coordination with implementing agencies concerned, formulate the necessary rules and regulations for the effective implementation of this Act.

SEC. 7. Repealing Clause. - Any provision of Republic Act No. 11494, otherwise known as the "Bayanihan to Recover as One Act" and any other law, decree, executive order, or rules and regulations contrary to or inconsistent with this Act, are hereby repealed or modified accordingly.

SEC. 8. Effectivity.- This Act shall take effect fifteen (15) days following its publication in the Official Gazette or in a newspaper of general circulation.

Approved, 
       
 

(SGD.) VICENTE C. SOTTO III               President of the Senate

(SGD.) LORD ALLAN JAY Q. VELASCO Speaker of the House of Representatives

This Act which originated in the House of Representatives was passed by the House of Representatives on December 14, 2020, amended by the Senate of the Philippines on December 15, 2020, and which amendments were concurred in by the House of Representatives on December 16, 2020.
   
 

(SGD.) MYRA MARIE D. VILLARICA               Secretary of the Senate

(SGD.) MYRA MARIE D. VILLARICA   Secretary General    House of Representatives

Approved: DEC 29 2020

(SGD.) RODRIGO ROA DUTERTE
    President of the Philippines