EXEMPTING THE NATIONAL HOUSING AUTHORITY FROM THE PAYMENT OF ALL TAXES, DUTIES, FEES AND OTHER CHARGES

WHEREAS, the programs and projects of the National Housing
Authority are for marginal and low-income groups of our people;

WHEREAS, taxes, fees and special assessments, whether local
or general, constitute a significant component of the costs, being- charged to
project beneficiaries;

WHEREAS, there is a need to institute every possible means
of reducing costs so that such Projects shall be more affordable to their
beneficiaries;

WHEREAS, all the predecessor housing agencies that were
abolished and whose functions were taken over by the National Housing Authority
under Presidential Decree No. 757 were tax exempt;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution of the
Philippines, do hereby order and decree:

SECTION 1. The provision of law to the contrary
notwithstanding the National Housing Authority is hereby exempted from the
payment of any and all fees and taxes of any kind; whether local or general,
such as income and realty taxes, special assessments, customs duties, exchange
tax, building fees, and other taxes, fees and charges.

SEC. 2. All documents or contracts executed by or in favor
of the National Housing Authority shall also be exempt from the payment of
documentary stamp tax and registration fees, including fees for the issuance of
titles.

SEC. 3. All taxes remaining unpaid by the National Housing
Authority up to the signing of this Decree are hereby condoned.

SEC. 4. This Decree shall take effect immediately.

Done in the City of Manila, this 6th day of May, in the year of Our Lord,
nineteen hundred and eighty-four.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.)JUAN C. TUVERA
		Presidential Executive Assistant