By Ben Rosario Exactly a week after its approval on second reading, the bill seeking to allow the tarrification of rice imports won third reading approval Tuesday in the House of Representatives. (EPA / MANILA BULLETIN) Certified by President Duterte as an urgent administration bill, House Bill 7735 was passed on 270 affirmative votes, seven negative votes and two abstentions. Entitled Revised Agricultural Tariffication Act, HB 7335 proposes to replace the current system of quantitative import restrictions on rice with tariffs. HB 7735 consolidates seven different legislative proposals filed separately by their respective authors.  Among them are former president and now Speaker Gloria Macapagal-Arroyo.  Among the authors are filed separately by former president and Speaker Gloria Macapagal-Arroyo and Reps. Jose T. Panganiban Jr. (ANAC IP Partylist); Sharon Garin (AAMBIS-OWA Partylist); Rico Geron (AGAP Partyilst) and Cecilia Leonila V. Chavez (Butil Partylist). The seven-man Makabayan bloc thumbed down the bill, saying that the measure will adversely affect local rice farmers. Aside from the tariffication of rice importation, HB 7735 also create an Agricultural Competitiveness Enhancement Fund to finance, through credit, productivity programs of farmers and fisherfolk; research and development on agricultural and fishery products of state universities and colleges and comprehensive and attractive grant-in-aid programs for for the two sectors, including forestry and veterinary medicine. A Rice Competitiveness Enforcement Fund (Rice Fund) will be created to be spent for the establishment of a rice endowment fund, 20percent; credit subsidy or grants in aid for rice farm modernization and mechanization, 20 percent, rice crop finance, 20 percent; postharvest facilities logistics storage, 20 percent; rice scholarships and vocational education, 10 percent; and research and development, 10percent. Under the bill, the ACEF will be taken from all duties collected from the importation of agricultural products, except rice. Panganiban, chairman of the House Committee on Agriculture and Food, said the proposed measure will put in safety nets for Filipino rice producers as it will impose tariffs instead of quantitative restrictions on importation of the staple. The National Food Authority (NFA) is mandated as the sole authority to undertake direct importation of rice for the purpose of ensuring food security and in maintaining sufficient national buffer stocks.