Economy

Bill to expand senior discounts from power, water 

UNSPLASH

A SENATOR has filed a bill expanding the electricity and water consumption discounts for senior citizens. 

Under Senate Bill 1066 or the proposed Expanded Senior Citizens Act of 2022 by Senator Grace Natividad S. Poe-Llamanzares, a minimum 5% discount will be given to the elderly on the first 150 kilowatt hours (kWh) and the first 50 cubic meters of their power and water consumption. 

They will also be exempted from the value-added tax for these services. 

The measure will amend the Expanded Senior Citizens Act of 2010. 

Mr. Poe, who heads the Senate committee on public services, said the law limits the 5% discount to seniors whose consumption does not exceed 100 kWh of electricity and 30 cubic meters of water. 

“In other words, if a senior citizen consumes, say 100.1 kWh or 30.1 cubic meters of water, he would no longer be entitled to the 5% discount,” she said. — Alyssa Nicole O. Tan 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top