EXPLANATORY NOTE
The state of our economy today makes it almost impossible for our public school teachers to achieve something so basic to a quality of life they deserve, and that is to have a place to call home. Realistically, the current economic climate makes searching for affordable housing almost impossible and this dilemma resonates through almost all sectors of society, especially for our noble public school teachers.
Most of these teachers cannot afford to have their own homes since property rates have gone up to unattainable numbers. Despite the salary adjustment our public school teachers received, it still doesn't permit them to own a home in this trying economic weather. In addition to this, more than 20% of our public school teachers have unemployed spouses, they bear the burden of putting food on the table and being the breadwinner struggling with a limited income, just trying to make ends meet.
There have been efforts to solve this dilemma 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 pushed through. Thus, it is imperative that we provide for a stable housing program for our teachers through legislation.
This Act aims to institute a housing program for teachers by providing funds through loans at very affordable interest and flexible repayment period, which our teachers can use to purchase a housing unit of their own choice. It also seeks to involve the private sector in providing housing units exclusively for teachers through the grant of fiscal incentives.
The State recognizes the plight of our noble teachers, hence, the passage of this bill is into law is earnestly sought.
RAMON BONG REVILLA JR.
SENATE BILL No. 660 (Download Here)
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