Legislative History
| House Bill/Resolution NO. House Bill No. 4944, 12th Congress of the Republic | |
| FULL TITLE : AN ACT MANDATING ALL GOVERNMENT FINANCIAL INSTITUTIONS (GFIs) PARTICIPATING AS LENDING WINDOWS UNDER THE MULTI-WINDOW LENDING SYSTEM (MWLS) TO ADOPT AND IMPLEMENT THE GRADUATED AMORTIZATION PAYMENT (GAP) SCHEME FOR SOCIALIZED HOUSING LOANS AND FOR OTHER PURPOSES | |
| ABSTRACT : "Graduated Amortization Payment Scheme Act of 2002". This bill seeks to: (1) Enhance the capability of low-income groups to aquire decent and socialized housing units through the mandatory graduated amortization payment mechanisms and facilities which will render affordable such acquisitions; (2) Provide for a strong and sustainable housing finance program with complementary support systems, which will pump prime, build up and strenghten available sources of cheap and long-term capital; and (3)Serve the housing requirement of all the underprivileged and those gainfully employed and members of the funding agencies such as Government Service Insurance System (GSIS), social Security System (SSS), and Home Devleopment Mutual Fund (HDMF/PAG-IBBIG) . | |
| PRINCIPAL AUTHOR/S : GARCIA, VINCENT J. | |
| DATE FILED : 2002-06-26 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Umali (004 ) | 2. Uy (004 ) |
| 3. Ylagan (004 ) | 4. Calalay (006 ) |
| 5. Jaraula (017 ) | 6. Soon-ruiz (028 ) |
| 7. Gatchalian (046 ) | 8. Antonino-custodio (046 ) |
| 9. Defensor (046 ) | 10. De Guzman (046 ) |
| 11. Duavit (046 ) | 12. Ermita-buhain (046 ) |
| 13. Fuentebella (046 ) | 14. Jaafar (046 ) |
| 15. Mitra (046 ) | 16. Perez (046 ) |
| 17. Remulla (046 ) | 18. Santiago (046 ) |
| 19. Villanueva (046 ) | 20. Syjuco (053 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON HOUSING AND URBAN DEVELOPMENT ON 2002-07-29 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON GOVERNMENT ENTERPRISES AND PRIVATIZATION |
Abstract
"Graduated Amortization Payment Scheme Act of 2002". This bill seeks to: (1) Enhance the capability of low-income groups to aquire decent and socialized housing units through the mandatory graduated amortization payment mechanisms and facilities which will render affordable such acquisitions; (2) Provide for a strong and sustainable housing finance program with complementary support systems, which will pump prime, build up and strenghten available sources of cheap and long-term capital; and (3)Serve the housing requirement of all the underprivileged and those gainfully employed and members of the funding agencies such as Government Service Insurance System (GSIS), social Security System (SSS), and Home Devleopment Mutual Fund (HDMF/PAG-IBBIG) .
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.