Legislative History
| House Bill/Resolution NO. House Bill No. 4031, 12th Congress of the Republic |
| FULL TITLE : AN ACT AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NO. 8291 AND REPUBLIC ACT NO. 8292, AND FOR OTHER PURPOSES(RE: GSIS & SSS HOUSING LOANS) |
| ABSTRACT : This bill seeks to amend certain provisions of Republic Acts 8291 and 8292, otherwise known as the GSIS Law of 1997 and the Social Security Law of 1997, respectively, in order to provide for a preferential mode or scheme of granting housing loans tomembers of the GSIS and the SSS at affordable rates of interest and in accordance with, and giving due consideration to, their ability to pay. > This bill principally states that HOUSING LOANS GRANTED TO MEMBERS SHALL BE AT PREFERENTIAL RATES OF INTEREST NOT EXCEEDING ONE HALF (1/2) OF THE PREVAILING RATE AND UNDER SUCH PAYMENT SCHEMES AND OTHER TERMS AND CONDITIONS AS ARE REFLECTIVE OF OR IN CONSONANCE WITH THEIR ABILITY TO PAY AND PROMOTIVE OF THEIR BASIC ECONOMIC AND SOCIAL RIGHT TO DECENT HHOUSING. |
| PRINCIPAL AUTHOR/S : SALAPUDDIN, GERRY A. |
| DATE FILED : 2001-12-04 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 2001-12-11 |
Abstract
This bill seeks to amend certain provisions of Republic Acts 8291 and 8292, otherwise known as the GSIS Law of 1997 and the Social Security Law of 1997, respectively, in order to provide for a preferential mode or scheme of granting housing loans tomembers of the GSIS and the SSS at affordable rates of interest and in accordance with, and giving due consideration to, their ability to pay. > This bill principally states that HOUSING LOANS GRANTED TO MEMBERS SHALL BE AT PREFERENTIAL RATES OF INTEREST NOT EXCEEDING ONE HALF (1/2) OF THE PREVAILING RATE AND UNDER SUCH PAYMENT SCHEMES AND OTHER TERMS AND CONDITIONS AS ARE REFLECTIVE OF OR IN CONSONANCE WITH THEIR ABILITY TO PAY AND PROMOTIVE OF THEIR BASIC ECONOMIC AND SOCIAL RIGHT TO DECENT HHOUSING.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.