Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila
NINETEENTH CONGRESS
Second Regular Session
HouseBi||No.9550
INTRODUCED BY REPRESENTATIVES RALPH WENDEL P. TULFO,
|0CELYN P. TULFO, AND ERWIN T. TULFO
AN ACT PROVIDING FOR A NATIONAL HOUSING DEVELOPMENT,
PRODUCTION, AND FINANCING PROGRAM, AND REGULARIZING ITS
APPROPRIATION FOR ITS IMPLEMENTATI0N
EXPLANATORY NOTE
ArticleXIII,Section9ofthe1987PhilippineCoustitutionmandatesdeeenthousing
and  basic  services  to  underprivileged  and  homeless  citizens  in  urban  centers  and
resettlement areas. It is also the policy of the State to provide for a comprehensive and
continuing urban development and housing program which shall make available decent
housingataffordablecost,aswellastherationaluseanddevelopmentofurbanland.This
is in pursuant to Republic Act No. 7279, otherwise known as the ``Urban Development
and Housing Act of 1992''.
There has been a large demand for housing which is not sufficiently met by the
supply of housing units, especially for the marginalized sector. The demand-supply gap
is attributed to at least three important factors: (1) poor households are unable to pay for
the high cost of housing; (2) government has limited resources, which constrain its ability
to meet the rising demand for housing; and (3) there is lack of incentives for the private
sector to engage in the provision of housing for the lower segment of the market.1
The governlnent remains the main provider of housing, especially to the poor. To
encourage greater private sector participation in the housing sector, the government's
thrust is geared towards a market-oriented housing finance system.2 Considering the
inadequate financial capacity at the lower end of the market, there has to be a long-term
mechanism  and  fund  support which  would  ensure  the  continuous  production  and
effective implementation of national housing development projects, giving priority to
homeless and underprivileged citizens in the country.
1 Cacwio, Fall:th, Community-Based Housing Finance Initiatives: The Case Of Ccmmunity Mortgage
Programme in the Philippines, UN-HALE:IT AI , Z009.. 5.
2 Id. at 6.


In view of the foregoing, the urgent passing of this bill is earnestly sought.
RA.PH# EL P. TULFO
Rapresenta:five
2nd District Of Quezon Crty
ACT-CIS Partytist


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila
NINETEENTH CONGRESS
Second Regular Session
HouseBi|iNo.9550
INTRODUCED BY REPRESENTATIVES RALPH WENDEL P. TULFO,
JOCELYN P. TULFO, AND ERWIN T. TULFO
1             AN ACT PROVIDING FOR A NATIONAL HOUSING DEVELOPMENT,
2          PRODUCTION, AND FINANCING PROGRAM, AND REGULARIZING ITS
3                                  APPROPRIATION FOR ITS IMPLEMENTATI0N
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5      Be it enacted by the senate and the House of Rapresentatives of the pldippines in congress
6       assembled:
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8           SECTION  1.  SJ!orf T!.fJe.  -This  Act shall be  known as  the  ``National  Housing
9      Development, Production, and Financing (NHDPF) Act''.
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11           SEC. 2. Dccharflf{.o# a/PoZ..ey. -It is hereby declared a policy of the state to:
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13           (a) Undertake,  in cooperation with the  private  sector,  a  continuing  program  of
14                housing and urban development which shall make available at affordable cost,
15                 decent  housing  and  basic  services,  especially  to  the  underprivileged  and
16                 homeless citizens;
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18          0 Pursue  the  realization  of  a   modem,   humane,   economically   viable,   and
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environmentally sustainable society where the urbanization process is manifest
in tov\ms and cities being centers of productive economic activity and is led by
market forces; where urban and rural areas have affordable housing, sustainable
physical and social infrastructure, and services facilitated under the democratic
and  decentralized  system  of governance;  and  where  urban and  rural  areas
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provide the opportunities for an improved quality of life and eradication of
poverty;
(c) Ensure that poor dwellers shall be provided with appropriate and imovative
housing programs and support mechanisms to discourage further growth of
blighted communities; and
(d) Encourage on-site development, whenever feasible, in the implementation of
housing programs,  and  promote  the  creation  of new  settlements  with basic
facilities and utilities and development of sustainable urban renewal programs.
Cognizant of the role of housing as stimulus of economic growth and development,
13      it is hereby declared a policy of the State to strengthen, promote, and support the
14      component    activities     of    housing    production    and    finance    by     ensuring
15      continuous/sustained funding support to scale up the implementation of the major
16      components of the NHDPF program.
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SEC. 3. Sfcafe#ce#f a/ Ob/iecf±.t)cs. -Towards this end, the State shall:
(a)Increasehousingproductionbyforgingpartnershipamonghousingstakeholders
to address the housing needs of Filipino families by 2040;
ap) Generate and mobilize funds for housing purposes of Filipino families, giving
priority to the homeless and underprivileged;
(c) Ensure  the  provision  of support mechanisms/subsidy  programs  to  improve
access of Filipino fandlies to a variety of housing options;
(d) Guarantee the development of a strong, sustainable, accessible, and affordable
housing finance system; and
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(e) Encourage public and private sector participation in the implementation of the
government NHDPF Program.
SEC.  4.  National  Housing  Development,  Production,  and  Financing  Progran
rrmpzc"c#tof..OEL  -  Consistent  with  the  aforementioned  policy  and  otryectives,  the
Department of Human Settlement and Urban Development (DHSUD) and its attached
key shelter agencies shall intensify the implementation of the vital components of the
NHDPF Program. The implementation of this program shall be carried out by the
following agencies :
(a) National  Housing  Authority  (NHA)  -  the  sole  national  government agency
tasked to implement and develop the following housing programs intended for
the bottom thirty percent (30%) of the income population:
(1) Rese££Zc#ze7z£   -   addresses   the   requirements   of   families   affected   by   (i)
government infrastructure projects, (ii) those living along danger areas, and
(iii) those affected by a writ of mandamus issued by the Supreme Cout. It
entails the provision of vertical (from 5- to 15-storey residential buildings)
and/or horizontal housing units, community facilities, sorioeconomic, and
other community support programs.
Theprogramalsoinvolvestheimplementationoflocal/regionalresettlement
projects  as  joint  national  government-local  government  undertakings  to
address  the resettlement requirements  of local  government units  qGUs)
outside Metro Manila involving finilies in danger areas, those affected by
infrastructure projects, indigenous peoples, and former rebels.
Thegovernmentinfrastructureagenciesshallsubmitaninventoryofinformal
settler finjlies (ISFs) to be affected by their projects and their location to the
appropriate housing agencies at least two years prior to its implementation,
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and shall incorporate in their respective project costs the amount needed for
their relocation and resettlement of affected families;
(2) Government  Employees  Housing   Program  -  see:1<s  to  provide  decerit  and
affordable housing to low-salary government employees;
(3) Se££Ze»ce„£s  upgr#dz.7ig - addresses the security of tenure and infrastructure
requirements    Of   informal    settlements    on   government-owned   lands
proclaimed and designated as socialized housing sites;
(4) Ho"sz.7zg P7iogr#m/or Cflzfl77#.fy Vt.cti.ms -seeks to respond to the housing needs
of low and marginal income and/or informal shelter families for transitional
and/or   permanent   shelter   affected   by   calamities,   such   as   typhoons,
landslides, earthquakes, and fires, for relocation to safe areas; and
(5) L¢7td  B¢7tke.7tg  -  refers   to  the  acquisition  of  land,  which  includes   idle
government lands, at values based on existing use in advance of actual need
to promote planned development and socialized housing programs with a
view to distribute the land to qualified socialized housing beneficiaries. It
covers  survey  and  titling  of  individual  lots  for  disposition  to  qualified
occupants,    infrastructure    development,    housing    construction,    and
rehabilitation of existing project sites;
a) Social Housing Finance Corporation (SIHC)  - mandated to undertake social
housing programs that will cater to the formal and informal sectors in the low-
income  bracket  and  to  take  charge  of  developing  and  administering  scx=ial
housing  programs,  particularly  the  Communrty  Mortgage  Program  and  its
different modalities:
(1) Cbm"#rii.fy Morfg#ge Progrm (CMP) - a mortgage financing program which
assists  legally  organized  asscx=iatious  of  underprivileged  and  homeless
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citizens  to  purchase  and  develop  a  tract  of  land  under  the  concept  of
communrty ownership.  The primary objective of the program is to assist
residentsofblightedordepressedareastoownthelotstheyoccupy,orwhere
they choose to relocate to, and eventually improve their neighborhood and
homes to the extent of their affordability. The different modalities of the CM'
are as follows:
(i)        Sccforflz CMP -caters to the different sectoral groups including, but not
limited to, the basic sector groups needing resettlement assistance. A
sectoral group represents a group or coalition of persons who share
similar  concerns  and  interests  and  intend  to  avail  of resettlement
assistancefromSHFC,includinglndigenousPeoples(IPs),Indigenous
Cultural Communities (ICCs), and other ethnic minority groups;
(rl)       Housing fior peace process and Nation-Building CMP -seeks to alchieve
national peace and development through the provision of housing to
former rebels/ rebel retumees. This also includes rebuilding damaged
or  destroyed  homes  in  posteonflict  areas  of  intemally  displaced
persons;
(rill)      Post-Disaster    Redbilitation   and   Reconstruction    CMP    -   prorv±des
assistance to community housing projects in times of disaster. This
program allows the communities to immediately embark on house
construction and  site  development, which adhere to the rhinimum
standards and specifications of the design and structural components
of disaster-resilient housing projects as well as materials;
(iv)      J7Idrsfro.aJ Workers CMP -caters primarily to low-income employees of
companies  engaged  in  agro-industrial,  industrial  processing  zone,
tourist, recreational, commercial, and other enterprises;
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(v)        SI.fe Llpgr#dz.7tg0cuezap7#e7i£ CMP -seeks to provide site development
and housing/ building construction loans for projects whose lands are
donated by private or public entities applicable to both on-site and
resettlement projects; and
(vi)      Mi.red-use CMP - seeks to develop a self-sustaining community by
having a balanced mix of residential and commercial spaces, well-
developed infrastructure, and recreational amenities along with green
and open spaces and wellness areas. Under this modality, 9°/o of the
project area shall be allotted for green spaces and 1 % of the project area
for friendly facilities of persons with disabilities (PWDs);
(c) National  Home  Mortgage  Finance  Corporation  (NHMFC)  -  a  government
corporation mandated to increase the availability of affordable housing loans to
finance the Filipino homebuyers on their acquisition of housing units through the
development and operation of a secondary market for home mortgages; .
(1) Secwrz.fiz¢fro7t - involves the development of the;econdary market for home
mortgages and other housing-related receivables, conveyances, and financial
instruments and the development/promotion of and investments in new
housing-related financial instruments and investment vehicles and the capital
markets thereof.  Furthermore, this would also increase and sustain funds
available for housing and home development;
(d) Department of Human Settlements and Urban Development (DHSUD)  - the
primary national government entity responsible for the management of housing,
humansettlements,andurbandevelopment,includingtheimplementationofthe
following programs :
(1) Pwbzi.c Ho"s!+ig - involves owning and/or managing by the government for
the  purpose  of providing security  of tenure  to  the  underserved  families
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including,  but  not  limited  to,  the  development  of  proclaimed  socialized
housing  sites  intended  to  promote  the  establishment  of  new  towns  and
settlements and urban renewal. The term ``underserved families" refers to
those who are disadvantaged in terms of access to, basic services because of
inability to pay or other disparities by reason of economic or social status,
ethnicity, geographical isolation, and other circumstances;
(2) Swbsz.dy - involves a financing assistance scheme intended to enhance the
affordabflity of well-targeted and most financially-incapable segments of the
society. It is a grant extended to qualified low-income beneficiaries under the
NHDPF Program under any of the following alternative subsidy schemes:
(i)        Extension of Interim shelter Fund to each of the family-beneficiaries
which they can use to find safe residency and livelihood to support
their falndies pending the completion of their housing units in the
relocation sites;
(ii)       Payment for upfront cost equivalent to 5%  of the project cost (c.g.,
mortgage insurance, titling, etc.); and
(iii)      Monthly payment subsidy for the first five years of the loan period in
accordance with Section 3  (a)  of Republic  Act No.  6486,  otherwise
known as the ``Social Housing Support Fund Act". The DHSUD shall
be authorized to establish the qualification and income requirements
of borrowers who will qualify for the amortization support subsidy.
The DHSUD, in coordination with the LGUs and other national government
agencies (NGAs), shall be authorized to formulate the criteria and guidelines
to select the beneficiaries that may qualify for the subsidy program;
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1                   (3) P#Z7Z!.c Rc7t£#Z Ho"s{.#g -involves the extension of fiscal assistance of up to a
2                      maxinum of fifty percent (50%) of the total construction cost for the NGAs
3                      and LGUs that shall construct and operate public rental accommodation to
4                      eligible low-income families and housing safety net for the vulnerable sectors
5                        (c.g., senior citizens, PWDs, etc.);
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7                 (4) Survey   of  proclaimed  lands  for   socialized  housing  and  inventory   of
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goverrmentidielands-involvesthesurveyofalloccupiedgovernmentlands
proclaimed by the President as suitable for socialized housing and conduct of
invento]ry of government lands which have been idle for more than ten (10)
years,  except  lands  owned  by  the  Gaccs  and  government  financial
institutions engaged in shelter financing as part of its fiduciary obligations to
itsmembersand/ortakenpossessionofintheirordinaryconductofbusiness;
and
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16                (5) Such other program components as may be determined by the DHSUD.
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18          SEC. 5. Appropriations by the National Government. -The armount o£ Orre H:\ir\!dred
19      Thrty-Five Billion, One Hundred Fourteen Million pesos (Php135,114,000,000.00) or
20      such amount necessary to carry out the provision of this Act is hereby authorized to be
21      appropriated armually through the General Appropriations Act over a period of twenty
22      (20)  consecutive  years,  commencing  from  the  year  immediately  succeeding  the
23      effectivity of this Act, or until such time that the total fund requirements provided for
24      in this Act shall have been fully released.
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26          A total amount of Two Trillion, Six Hundred sixty-Seven Billion, Two Hundred
27      Ninety-Three   Million   Pesos   (Php2,667,293,000,000.00)   covering   the   conthuing
28      requirement of this Act shall be appropriated to the DHSUD and key shelter agencies
29      for the implementation of the following component programs of the NHDPF program:
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(a) Cine  Trinion,  Seven  Hundred  Twenty-Two  Billion,  Four  Hundred  Forty-Six
Million Pesos (Php1,722,446,000,000.00) for the implementation of the following
programs of the NHA:
(1) Eight    Hundred    Billion,    Six    Hundred    Ninety-Nine    Million    Pesos
(Phrsoo,699,000,000.00) to finance the Resettlement Program under Section
4(a)(1) of this Act;
(2) Five Hundred Forty-Three Billion, Four Hundred Nineteen Million Pesos
(Php543,419,000,000.00)  as  subsidy  for  Government  Employees  Housing
under Section 4(a)(2) of this Act;
(3) One  Hundred  Sixty-Four  Billion,  Two  Hundred  Sixty-Five  Million  Pesos
q'hp164,265,000,000.00) for the Settlements Upgrading under Section 4(a)(3)
of this Act,.
(4) One Hundred One Billion, Seven Million Pesos q'hH01,007,000,000.cO) for
the Housing Program for Calamity Victims Section 4(a)(4) of this Act; and
(5) Sixty-Three  Billion,  Fifty-Six  Million  Pesos  q'hp63,056,000,000.00)  for  the
Land Banking under Section 4(a)(5) of this Act.
Q)Four     Hundred     Fifty-Three     Billion,     Two     Hundred     Million     Pesos
q'hp453,200,000,000.00)  for the  implementation  of the  Community  Mortgage
Program under Section 4®)(1) of this Act;
(c)  Fifty Billion Pesos (Php50,000,000,000.00) for the Capitalization of the NHP`ffc
under Section 4(c)(1) of this Act;
(d) Four  Hundred  Seventy-Six  Billion,  Six  Hundred  Forty-Seven  Million  Pesos
a?hp476,647,000,000.00) for the implementation of the following programs of the
DHSUD:
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(1) Three Hundred Sixty-Five Billion, Nine Hundred Seventy-Nine Million Pesos
a?hre65,979,000,000.00) to finance the Public Housing under Section 4(d)(1);
(2) Eighty-Nine     Billion,     One     Hundred     Thirtyone     Million     Pesos
(Phrs9,131,000,000.00) as subsidy under 4(d)(2), broken down as follows:
(i)        Eighteen    Billion,    Five    Hundred    Thirtyone    Million    Pesos
a?hp18,531,000,000.00)  as  interim  shelter  finance  assistance  for  the
informal settler families who will be relocated under Section 4(d)(2)(i);
(ii)       Sixty-Three   Billion,   Seven   Hundred   Ninety-Six    Million   Pesos
a?hp63,796,000,000.00) as upfront subsidy under Section 4(d)(2)(ii);
(iii)      Six Billion, Eight Hundred Four Million pesos (6,804,000,0000.00) as
amortization support under Section 4(d)(2)(iii);
(3) Twenty Billion, Four Hundred Fifty-Six Million Pesos (Php20,456,000,000.00)
to finance public rental housing under Section 4(d)(3); and
(4) One Billion, Eightyone Million (Php1,081,000,000.00) to firunce survey of
proclaimed lands and conduct of inventory of government idle lands suitable
for socialized housing under Section 4(d)(4).
SEC. 6. LGLr So#rces a/ F##ds.  - Section 43 of RA 7279, otherwise known as the
26      ``Urban Development and Housing Act of 1992", is hereby amended to read as follows:
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``SEC. 43. Socz.¢ZI.zt3d Ho"s!.7!g Tor. - Consistent with the constitutional principle
that the ownership and enjoyment of property bear a social function and to raise
funds for the Program, all local government urrits are hereby authorized to impose
an additional one-half percent (0.5%) tax on the assessed value of all lands in
urban areas [in cxccco of Fifty thoumnd pcsoo (P50,000)I THE PROCEEDS FROM
TIIE IMroslTION OF soclALlzED HOuslNG TAx SHALL AccRUE TO THE
SPECIAL  FUNDS  OF  THE  LGUS,  1^/IIICII  SIIALL  BE  USED  FOR  THE
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DEVFIjppl\Alr`IT      OF      soclALlzED      HOusING      pROTECTs      AND
CONSTRUCTION   AND   ESTATE   MANAGEMENT   OF   PUBLIC   RENTAL
HouslNG oF Tlm LGus."
SEC. 7. Implemeritation Of the Seouri±ization, Capital, and Secondary Mortgage
6      0perfl[fro#s  Progrwffl.   -  The  NHDPF  Securitization  for  the  development  of  the
7      secondary  market  for  home  mortgages  of  and  other  housing~related  reeeivables,
8      conveyances, and financial instruments, investment vehicles and the capital markets
9      thereof, to increase and sustain funds available for housing and home development
10      shall be implemented as follows:
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(a)The   NHNIC   shall   be   the   sole   implementing   agency   for   the   NHDPF
securitization;  ,;
ap) The  NHNIC,  in  coordination  with  the  DHSUD,  DOF,  and  BSP  and  other
concerned agencies and private sector organizations, shall formulate a program,
the proceeds of which shall accrue to the Centralized Housing Fund;
(c)Themortgagestobegeneratedasaresultoftheimplementationofthecomponent
programs of the NHDPF Program shall be sold and transferred to NHNIC,
which shall also serve as an asset pool for securitization; ,
(d)The  P\HMFC  as  the  sole  agency  for  the  implementation  of  the  NHDPF
Securitization shall marmge the whole securitization process which includes the
followingactivities:determiningtheeligibflitycriteriafortheassetpool;defining
the preliminary structure of the notes, bonds, and/or instruments to be issued;
third parties to be hired; and education/briefing of target investors for all the
issues;
(e) The NHNIC- and NHDPF-issued bonds, notes, and securities shall be exempt
from the registration requirements under RA 8799, otherwise known as "The
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Securities Regulation Code'', in order to accelerate the issuance of its housing-
related securities/ financial instruments and, thus, more reasonably provide the
necessary fund for housing developments;
(f)  Transactions  by  banks  involving  the  purchase  and  sale  of  housing  hands,
debentures, and such other similar instruments shall be exempt from the twenty
percent (20%) final tax on income, documentary stamp tax, gross receipts tax, and
value added tax;
(g)Theinvestors'yieldorincomefromanysocializedhousingoreconomichousing-
related bond or asset-backed securities issued by NHNIC directly or through a
special purpose entity under RA 9267, otherwise known as ``The Securitization
Act of 2004'', shall be exempt from income tax. Such issuances shall enjoy all the
tax  exemptions  granted  under  RA  9267,  pursuant  to  the  State's  policy  of
promoting the  securitization of mortgage  and  housing-related  receivables  of
government housing agencies, to generate investment and accelerate the growth
of the housing finance sector, especially for socialized and economic housing;
th) Bonds purchased by private real estate developers shall be considered as an
alternative compliance to the balanced housing requirements under Section 18 of
RA 7279, as amended by RA 10884, subject to the rules promulgated by the
DHSUD; and
(i)  The Philippine Guaranty Corporation, created pursuant to Executive Order No.
58, s. 2018, shall guarantee payment of the balance outstanding and due on the
guaranteed principal obligation, plus interest and yields thereon up to eleven
percent (11 0/o) per annum for socialized housing packages, ten percent (loo/o) per
annum for low{ost housing packages,  nine and  one-half percent  (9.5°/o)  per
annumformedium-costhousingpackages,andeightandone-half percent(8.5°/o)
per annum for open housing packages.
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1           SEC. 8. C¢p®.tor..zflffo# a/NHMFC. -The authorized capital stork of the NHNIc is
2      hereby increased from Five Billion Five Hundred Million pesos (Php5,500,000,000.00)
3      to Fifty Billion pesos (Php50,000,000,000.00) to expand its leveraging capacity based on
4      the volume of mortgage loans being serviced to improve its profitability by reducing
5      the average cost of its fund made available for home-lending programs.
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7           The capital of the NHNIC shall be Fifty Billion pesos (Php50,000,000,000.00), to be
8      fully  subscribed  by  the  Government  of the  Republic  of the  Philippines,  hereafter
9      referred to as the ``National Govemment'': Proz".did, That half of the capitalization shall
1o      be funded from the General Appropriations Act, and the remaining half shall be funded
11      from the declared dividends of the NHMFc in favor of the National Government;,,For
12      this purpose, any and all declared dividends of the NHMFc in favor of the National
13      Government shall be deposited in a special account in the General Fund, and earmarked
14      for the payment of NHMFC's increase in capitalization. Such payment shall be released
15      and disbursed immediately and shall continue until the increase in capitalization has
16      beenfullypaid.
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18           SEC. 9. Tianc £#c7icp£!.o#s. -The NHMFC shall be absolutely exempt from all national,
19      provincial,  municipal,  and  city  taxes  on  income  derived  from  its  governmental
20      functions, specifically income from its activities or transactions in the exercise of its
21    -dates.
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23           SEC.10. M#Jf{.-Year obJI.grtr.o#cZ A#ffeoH.fry. -The secretary of the DHSUD and
24      Heads of its attached housing agencies, pursuant to the NHDPF program, projects and
25      appropriations approved by congress, shall, subject to the provisions of existing laws
26      and regulations, including those of the commission on Audit and other such terms and
27      conditions  most  favorable  to  the  government,  be  given  multi-year  obligational
28      authority for housing programs or projects which will take more than one year to
29      complete that and requires multi-year appropriations.
30
15


1           SEC.   11.   Pr!.I/flfe   Sector   P¢rtr.c..p¢ft.o#.   -   To   fast   track   the   approval   and
2      implementation of housing projects and reduce the cost of socialized and low{ost
3      housing units, the Bureau of lnternal Revenue, the Department of Agriculture, the
4      National Irrigation Authority, the philippine coconut Authority, the sugar Regulatory
5      Administration, the Department of Agrarian Reform, the Department of Environment
6      and  Natural  Resources,  the  Mines  and  Geosciences  Bureau,  the  haguna  I.ake
7      Development Authority, the Department of the Interior and Local Government, the
8      LGUs, the I.and Registration Authority, and the DHSUD shall fachitate the release of
9      the     required     housing-related     permits,     licenses,     certificatious,     and     tax
10      exemptions/rulings in accordance with RA 9485, otherwise known as the ``Anti-Red
11      Tape Act of 2007'', as amended by RA 11032, otherwise known as the ``Ease of Doing
12      Business and Efficient Government service Delivery Act of 2018''.
13
14           In case the responsible officers of the agencies concerned fail or refuse to dispose of
15      the  application  within  the  periods  prescribed  under  RA  11032,  the  applicable
16      administrative  and  criminal  liability  as  stated  in Section  22  of  RA  11032  shall  be
17      inposed.
18
19           AIl the incentives enumerated under section 20 of RA 7279, as amended by RA 10884,
20      otherwise known as the ``Balanced Housing Development Program Amendments'',
21      shall be extended to the private sector engaged in scx:ialized and low{ost housing
22      development  including  the  construction  and  estate  management  of  public  rental
23      housing.
24
25          The participation of owners and/ or developers in any of the component programs
26      of the NHDPF shall be treated as one of the manners of compliance to the balanced
27      housing requirements subject to the conditions set forth under RA 10884.
28
16


1           SEC.12. CoJJecfl.o# £#t.cc.c#ey. -In order to improve collection efficiency, the NHA,
2     SHFC,  and  NHNIC  shall  have  authority  to  foreclose  mortgages  and/or  evict
3      beneficiaries in accordance with existing laws.
4
5            SEC.13. Jowpze77.c7®f±.#g Rzzkes a»d Rcgrfhatr.ous. -Within ninety (90) days upon the
6      effectivity of this Act, the DHSUD shall promulgate mles and regulations necessary for
7      the implementation of this Act.
8
9           SEC.14. SqfJ¢rtzbt.I..fry chawse. -If, for any reason, any section, subsection, clause, or
10      terln of this Act is held invalid or unconstitutional, such parts not affected by such
11      declaration shall remain in full force and effect.
12
13           SEC.15. Rapc¢Ji.#g chausc. -All existing laws, orders, decrees, rules and regulations,
14      or parts thereof,  inconsistent with the provisions of this Act are hereby amended,
15      modified, or repealed accordingly.
16
17           SEC.16. £#ecf!.t7c.fry. -This Act shall take effect fifteen (15) days after its publication
18      in the official Gazette or in a newspaper of general circulation.
19
Z0             ALpproved,
17