The House of Representatives on Thursday approved the controversial proposed bill seeking to create a Maharlika investment fund on the third and final reading.

With 279 affirmative votes, six negative votes, and zero abstentions, House Bill 6608 was approved after the second reading.

President Ferdinand ‘Bongbong’ Marcos Jr. earlier certified the measure as urgent.

The six lawmakers who voted against the passage of HB 6608 are ACT Teachers party-list Rep. France Castro, Kabataan Party-list Raoul Manuel, Gabriela Party-list Arelene Brosas, Basilan Lone District Rep. Mujiv Hataman, Albay 1st District Rep. Edcel Lagman, and Camarines Sur 3rd District Rep. Gabriel Bordado Jr.

The Maharlika investment fund is a sovereign wealth fund that will extract resources from government financial institutions (GIFs) including Bangko Sentral ng Pilipinas (BSP), Land Bank of the Philippines (LBP), and Development Bank of the Philippines (DBP).

The government will use the collected fund for investment in order to raise revenues and support government programs.

The measure was filed by House Speaker Martin Romualdez last November.

According to the latest count from Romualdez’s office on Thursday afternoon, a total of 275 lawmakers signed as co-author of the bill.