Presidential Decree No. 1430 (PD 1430) — Amending Section 4 of Presidential Decree No. 757 to Increase the Capitalization of the National Housing Authority and Creating a National Housing Fund.
WHEREAS, national development in the context of the New
Society is measured in terms of the fulfillment of each Filipino's aspiration
for a better life;
WHEREAS, the enjoyment of a decent and adequate shelter with
the appropriate community services and facilities has been and continues to be
the aspiration of the mass of Filipino families;
WHEREAS, the Government is committed to bring the benefits
of the New Society to the people through the provision of adequate housing and
in this direction, the Government has formulated a National Housing Program
under the Five-Year Philippine Development Plan, otherwise known as the
Presidential Decree No. 1200, to deliver and answer this commitment;
WHEREAS, the meaningful fulfillment of this commitment
demands investments of funds, and other resources of government, as well as the
concerted effort of government agencies;
WHEREAS, pursuant to Presidential Decree No. 757, the
National Housing Authority is the principal agency tasked with providing and
maintaining adequate housing for the greatest number of people, undertaking
housing development and resettlement and harnessing and promoting private
participation in housing;
WHEREAS, the National Housing Program as mandated by
Presidential Decree No. 757 and as formulated in the Five-Year Philippine
Development Plan is slanted toward the provision of adequate housing for the
marginal and low-income families in the slums, squatter areas and other blighted
communities in urban centers of the country, which families require government
subsidies to have access to even minimum community services and facilities;
WHEREAS, the primary approach to housing development
particularly for the marginal and low-income families, is toward the
participation of all national and local government agencies concerned;
WHEREAS, there is a need to provide a source of funds for
the participation of such national and local government agencies in housing;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution, do hereby
order and decree:
SECTION 1. Section 4 of Presidential Decree No. 757 is
hereby amended to read as follows:
SEC. 2. Any amount payable to the National Housing Authority
in the years past under the schedule provided for in Section 1 above and due to
the increased capitalization of the Authority as herein decreed shall be
released to the Authority within two (2) years from the effectivity of this
Decree.
SEC. 3. A Housing Fund is hereby authorized to be
constituted within the Office of the President, to provide a source of funds for
components of the National Housing Program. The Fund shall consist of
contributions from agencies of the national government involved in the
implementation of the housing program and shall be released upon the
recommendation of the National Housing Authority through the National Economic
and Development Authority and approval by the President.
Capitalization.
SECTION 4. Capitalization.—The Authority shall have
an authorized capital of TWO BILLION PESOS (P2,000,000,000) which shall be fully
subscribed by the Republic of the Philippines and paid as follows:
The sum of TWO HUNDRED MILLION PESOS (P200,000,000) upon approval of this
Decree is hereby appropriated out of the funds in the National Treasury not
otherwise appropriated, FIVE MILLION PESOS (P5,000,000) of which shall be
released upon the organization of the Authority, and the balance upon approval
by the President; and
The balance of the subscribed capitalization shall be paid over a period of
nine (9) years in accordance with such payment schedule as may be approved by
the President: Provided, That, the assets and balances of
appropriations transferred to the Authority pursuant to the provisions of
Section 5 hereof, shall not be included in determining the capital of the
Authority as provided for in this Section.
SEC. 4. This Decree shall take effect immediately.
Done in the City of Manila, this 10th day of June, in the year of Our Lord,
nineteen hundred and seventy-eight.
(Sgd.) FERDINAND E. MARCOS
President of the
Philippines
By the President:
(Sgd.) JACOBO C. CLAVE
Presidential Executive
Assistant
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
