Lawmaker seeks housing for public school teachers
MORE than 90,000 public schools teachers in the country have no capacity to own houses, according to study.
This prompted Rep. Ma. Theresa Bonoan-David (4th District, Manila) to file House Bill 6326 creating a housing program for homeless public school teachers in the country.
At present, Bonoan-David said there about 510,629 public school teachers all over the country, majority of whom cannot afford to own a home with the high price tag being offered by private housing
“The scarcity of affordable housing affects all sectors of society especially our public school teachers as revealed by an independent survey that more than 90,000 have no homes to call their own,” Bonoan-David said.
Bonoan-David added that the average monthly income of teachers in public schools is only P10,000 or less. “More than 20 percent of spouses of these teachers are unemployed,” she said.
Bonoan-David said there had been efforts to solve the housing problem of teachers by providing for a special homing facility through the state pension fund. “However, its implementation got caught up in the
web of politics and never materialized,” she added.
Under the bill, to be known as the “Teachers Housing Program”, a teacher will be provided with a housing loan to purchase a house and lot with.
Loans provided under the program shall be computed based on a net take home pay of the teacher which shall not be lower than P3,000. The interest rate on the loan shall not be more than 12 percent per annum
and shall be fixed for the entire term of the loan.
The bill provides that private sector developers who will participate in the housing project for teachers are entitled to exemption from income taxes for housing projects, capital gains tax, documentary stamp and value-added tax or VAT.
The Government Service and Insurance System (GSIS) and the Home Development Mutual Fund shall contribute a total of P2 billion for the initial implementation of the program.