PRESIDENT Ferdinand Marcos Jr. has extended the corporate life of the National Housing Authority (NHA) by another 25 years and raised its capital from P5 to P10 billion.
The President signed on May 29, Republic Act No. 12216 or the NHA Act, which repealed Presidential Decree No. 757, series of 1975, that originally created the housing agency, and mandated it to operate as a corporate body under the Department of Human Settlements and Urban Development (DHSUD).
The new law states that NHA shall exist for 25 years starting July 31, 2025 and have a capitalization fund of P10 billion, up from P5 billion, “which shall be fully subscribed and paid for by the Republic of the Philippines.”
The law states that the initial P5 billion capital would be included in the General Appropriation Act (GAA) of 2026, while the remaining P5 billion shall be fully paid within a period of 10 years and included in the annual budget.
It also provides that the NHA shall be responsible for the development and implementation of comprehensive, integrated, and affordable housing programs; acquire property rights and interests, and encumber or otherwise dispose the same, as it may deem appropriate; and exercise the power of succession, to sue and be sued, and to adopt and use a seal which shall be judicially noticed.
It can also borrow funds from any source, private or government, foreign or domestic; receive donations, grants, bequests, and fund transfers from private persons or entities and other branches of the government, including local government units, and utilize the same for the attainment of its objectives; maintain a provident fund, which shall consist of contributions made by both the earnings of the authority and its officers and employees, for the payment of benefits to such officers and employees or their heirs under such terms and conditions as it may prescribe, subject to the provisions of Republic Act No. 10149, or the “GOCC Governance Act of 2011”, and other executive issuances.
It shall establish a socialized and low-cost housing loan restructuring and condonation program, subject to the terms and conditions as the NHA board of directors may prescribe; develop and maintain a database and census of families and households along waterways, in danger areas, government infrastructure project sites, and government-owned lands in Metro Manila and all regions across the country; and engage in land banking through acquiring and investing in lands situated in strategic locations, among others such as those near train stations, ports, and other high transit hubs for purposes of socialized housing development, among others.
An NHA board shall also be formed and composed of secretaries of the DHSUD and the departments of Public Works and Highways, Finance, Interior and Local Government, and Budget and Management; the director manager of the National Economic and Development Authority; General Manager of the NHA.
The board shall also include two expert panel members with expertise in housing, urban planning and development who shall be appointed by the President.
The DHSUD Secretary shall be the ex officio chairman of the board.
Other laws
The President, on May 29, also signed Republic Act No. 12215 or the Philippine Agriculturists Act into law which recognizes the importance of registering agriculturists; developing and nurturing competent, ethical, globally competitive and well-rounded registered agriculturists; and fostering and administering transparent, credible and relevant licensure examinations.
It provides for the creation of a Professional Regulatory Board of Agriculture under the Professional Regulatory Commission, which shall be composed of a chairperson and five members who represent the different specializations in agriculture. The board shall be constituted within six months from the effectivity of RA 12215.
Marcos also signed on May 29 RA 12218 that declared January 6 of every year as a special working holiday in Quezon City which shall be known as “Tandang Sora Day,” which commemorates the birth anniversary of Melchora Aquino and recognizes her contributions to the country as the “Mother of the Katipunan;” and RA 12219 that declared October 27 of every year as a special working holiday in Sarangani in recognition of the unique contributions of the indigenous peoples of Sarangani to the rich and diverse cultural heritage of the Philippines.
Also signed into law are RA 12217 that declared September 14 of every year as a special working holiday in Sta. Cruz in Occidental Mindoro, in celebration of the “Feast Day Of The Holy Cross;” and RA 12220 that declared July 8 of every year as a special working holiday in Isabela City in Basilan, to be known as Fiesta Alegria De Isabela, in celebration of the Feast of St. Elizabeth of Portugal.
Copies of the new laws were uploaded in the Official Gazette on Monday.
