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Marcos inks law extending NHA's corporate term

Philippines | National

Marcos inks law extending NHA's corporate term

By Betheena Unite

President Marcos has signed the National Housing Authority Act which extends the agency's corporate term and rationalizes its powers.

President Ferdinand R. Marcos Jr.

President Ferdinand R. Marcos Jr.

Marcos inked Republic Act No. 12216 on May 29 which also repealed Presidential Decree No. 757, series of 1975.

Under the law, the National Housing Authority (NHA) will continue to exist as a corporate body for another 25 years starting on July 31, 2025.

It shall develop and implement a comprehensive, integrated, and affordable housing program. It shall also retain its principal office in Metro Manila.

The NHA shall be under the administrative supervision of the Department of Human Settlements and Urban Development (DHSUD).

The NHA's authorized capitalization shall be increased from P5 billion to P10 billion which shall be fully subscribed and paid by the State.

Under the law, the powers of the NHA will be exercised through the Board of Directors which shall be composed of nine members, consisting of the secretaries of DHSUD, Department of Public Works and Highways (DPWH), Department of Finance (DOF), Department of the Interior and Local Government (DILG), Department of Budget and Management (DBM), Director-General of NEDA, General Manager of NHA, and two expert panel members with expertise in housing, urban planning, and development.

The DHSUD secretary will be the ex officio Chairperson of the Board.

The Board shall meet regularly at least once a month, but special meetings may be called either by the chairperson or by five members of the board, as may be necessary.

The law also ordered that there shall be a Disaster and Emergency Response Housing Office (DERHO) under the NHA which shall formulate plans and programs addressing the needs of displaced families due to natural and human-induced disasters and calamities.

Related Tags

President Marcos National Housing Authority NHA

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