Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

EIGHTEENTH CONGRESS
First Regular Session

HOUSE BILL No. 559

Introduced by: HON. “KUYA” JOSE ANTONIO R. SY-ALVARADO, HON. ERIC GO
YAP AND HON. STRIKE B. REVILLA

EXPLANATORY NOTE

Article XIII Section 9 of the Constitution provides “The State shall, by law, and for the common
good, undertake, in cooperation with the private sector, a continuing program of urban land reform
and housing which will make available at affordable cost, decent housing and basic services to
underprivileged and homeless citizens in urban centers and resettlement areas. It shall also promote
adequate employment opportunities to such citizens.”

For almost five decades, the National Housing Authority (NHA) stayed true to its commitment in
providing decent and affordable housing to disaster victims, poor and homeless Filipino people.

This measure seeks to boost the mandate of the constitution and ease the financial burden by the
HA housing beneficiaries and home-owners by waiving and condoning all penalty/delinquency
interest and acerued/unpaid amortization interest of their housing loan. Furthermore, the monthly
principal payments should be based on the most flexible and smallest amount possible.

Therefore, the early approval of this bill is earnestly sought.

STRIKE B. REVILLA

Representative
Second District of Cavite

ERIC GO YAP

Representative
ACTS CIS Party List

E ANTONIO R. SY-ALVARADO
Represeylative
First istrict of Bulacan


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

EIGHTEENTH CONGRESS
First Regular Session

HOUSE BILL NO. 8550

Introduced by: “KUYA” JOSE ANTONIO R. SY-ALVARADO, ERIC GO YAP AND
STRIKE B. REVILLA

AN ACT PROVIDING ASSISTANCE TO NATIONAL HOUSING AUTHORITY (NHA)
HOUSING BENEFECIARIES BY WAIVING AND CONDONING ALL PENALTIES
AND DELIQUENCY CHARGES TO THE ACCOUNT OF EVERY HOUSING
BENEFICIARIES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1.  — This Act shall be known as the “Housing Amortization Interest and Penalty
Condonation Act of 2020”

SECTION 2. Declaration of Policies. - It is the Policy of the State to undertake, in cooperation with
the private sector, a continuing program of urban land reform and housing which will make
available at affordable cost, decent housing and basic services to underprivileged and homeless
citizens in urban centers and resettlement areas as well as to promote adequate employment
‘opportunities to such citizens.

SECTION 3. Definition of Terms — For purpose of this Act, the following terms are defined:

a, “Condonation” refers to the waiver of penalties and delinquency charges for the unpaid
amortization interests

b. “Housing Beneficiaries” refers to a person who availed any housing projects of the National
Housing Authority.

¢. “Penalty/Delinquency Interest” refers to punitive interest charged to a housing beneficiary if
installments are not paid according to the housing loan terms.

d. “Unpaid/Accrued Amortization Interest” refers to amount of amortization interest due that has
accumulated since the last amortization interest was paid.

SECTION 4. Coverage ~ This act shall cover every housing beneficiary under all NHA housing and
resettlement projects

SECTION 5. Condonation of Penalty/Delinquency Interest and Unpaid Amortization Interest ~ All
penalties/delinquency interest and 100% of the unpaid/accrued amortization interest will be waived off.

SECTION 6. Monthly Principal Amortization - Monthly amortization for the principal payments should
be based on the first year of payments due or the smallest projected monthly payment.

SECTION 7. Implementing Rules and Regulations- The NHA, in consultation with the Housing and
Urban Development Coordinating Council (HUDCC), and other agencies they deem necessary to consult,
shall issue the Implementing Rules and Regulations (IRR) within ninety (90) days after the approval of this,
act.

SECTION 8. Separability Clause- If any provision of this act is declared unconstitutional, the same shall
not affect the validity and effectivity of the other provision hereof.

SECTION 9. Repealing Clause- All laws, decrees, issuances or portions thereof, which are inconsistent
with the provisions of this act are hereby repealed or modified accordingly.


SECTION 10. Effectivity- This act shall take effect fifteen (15) days after its publication in two (2) national
newspaper of general circulation.

Approved,

STRIKE B. REVILLA
Represdntative
Second District of Cavite

ea

ERIC GO YAP
Representative
ACTS CIS Party List

“KUYA” Jt
Representgtive
First Digfrict of Bulacan

E ANTONIO R. SY-ALVARADO,