BGHTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES ) 
Second Regular Session 
)
SENATE
S. No.
2253
FILED
DATE
TU.1E¥
B\Ltt
INDEX
Introduced by Senator Manuel "Lito" M. Lapid
AN ACT
PROVIDING FOR ADDITIONAL CAPITALIZATION OF THE SOCIAL 
HOUSING FINANCE CORPORATION (SHFC) FOR IMPLEMENTATION OF THE 
LOCALIZED COMMUNITY MORTGAGE PROGRAM (LCMP)
EXPLANATORY NOTE
According to the National Economic and Development Authority (NEDA), there 
is a growing housing need of about 6.8 million units for 2017-2022, with a housing 
backlog of more than 2 million as of December 2016, which must be addressed 
immediately.
Under the 2020 General Appropriations Act (GAA), a total of five hundred 
million pfesos (P500,000,000.00) was allocated as subsidy for the Community 
Mortgage Program of the Social Housing Finance Corporation (SHFC) while the 2021 
GAA did not provide subsidy for the same. The Localized Community Mortgage 
Program (LCMP), a derivative of the CMP, is being implemented to empower the local 
government unit (LGU) in achieving housing programs for the informal sector in their 
respective areas. Given the level of subsidy being provided for SHFC, It might be 
insufficient to cover the costs for the effective implementation of LCMP.
Thus, the need to provide for an additional capitalization to the SHFC for the 
LCMP, which will allow LGUs to maximize their limited housing budget and be provided


with adequate amortization support, development and financing assistance for their 
housing projects.
In view of this, early passage of this bill is sought.
EL "UTO" M. LAPID
Senator


EIGHTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHIUPPINES ) 
Second Regular Session 
)
SENATE
S. No. 2253
FILED
DATC
TIME¥IM&EX
SILLS
Introduced by Senator Manuel "Lito" M. Lapid
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AN ACT
PROVIDING FOR ADDITIONAL CAPITALIZATION OF THE SOCIAL 
HOUSING FINANCE CORPORATION (SHFC) FOR IMPLEMENTATION OF
THE LOCALIZED COMMUNITY MORTGAGE PROGRAM (LCMP)
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Be it enacted by the Senate and the House of Representatives of the Philippines 
in Congress assembled:
Section 1. Declaration of Policy. - The State shall undertake 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. Towards this end, it shall undertake social 
housing programs that will cater to the formal and informal sectors in the low-income 
bracket, and develop and administer social housing programs such as the Localized 
Community Mortgage Program (LCMP) that provide amortization support, 
development and financing programs for local government units and legally-organized 
associations of underprivileged and homeless citizens.
Section 2. Provision of Additional Capitalization. - The State shall provide Two 
billion pesos (P2,000,000,000.00) as additional capitalization for the Localized 
Community Mortgage Program being implemented by the Social Housing Finance 
Corporation (SHFC).


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Section 3. Annual Reports. - The SHFC shall include in the submission of their 
annual reports the utilization of such additional capitalization to the Senate and the 
House of Representatives.
Section 4. Separability Clause. - If any provision or section of this Act or the 
application thereof to any person or circumstance is held invalid, the other provisions 
or sections of this Act shall remain valid, and the application of such remaining 
provisions and sections to the other persons or circumstances shall not be affected 
thereby.
Section 5. Repealing Clause. - All provisions and any other provisions 
inconsistent with the provisions of this Act are hereby amended accordingly.
Section 6. Effectivity Clause.—This Act shall take effect fifteen (15) days from 
its publication in the Official Gazette or in at least two (2) newspapers of general 
circulation.
Approved,