Section 1March 18, 2007, Sec./Art. 1

Section 12 of Republic Act No. 7279, otherwise known as the "Urban Development and Housing Act of 1992," is hereby amended to read as follows:

"SEC. 12. Disposition of Lands for Socialized Housing. - The National Housing Authority, with respect to lands belonging to the National Government, and the local government units with respect to the other lands within their respective localities, shall coordinate with each other to formulate and make available various alternative schemes for the disposition of lands to the beneficiaries of the Program. These schemes shall not be limited to those involving transfer of ownership in fee simple but shall include lease, with option to purchase, usufruct or such other variations as the local government units or National Housing Authority may deem most expedient in carrying out the purposes of this Act."

"Consistent with this provision, a scheme for public rental housing may be adopted.

"Disposition of lands, including any improvements thereon, owned by the National Government or any of its agencies or instrumentalities and/or the local government units through direct negotiated sale to the occupants thereof without need of public bidding shall be allowed subject to the following conditions:

"a) The lands are within a residential zone as classified by the local government unit concerned;

"b) The lands are certified to be for socialized housing purpose by the Housing and Urban Development Coordinating Council;

"c) The occupants are qualified beneficiaries in accordance with Section 16 and are registered as such in accordance with Section 17 of this Act;

"d) The cost of said lands shall be made affordable to the beneficiaries, taking into consideration their income and land valuation required in Section 13 of this Act;

"e) Any subsequent disposition of the said land shall be subject to the limitations provided in Section 14 of this Act; and

"f) The occupants have resided on the said lands subject to the prohibitions provided in Section 30 of this Act."