Deputies receive the AMLO reform for the assignment of Fovissste – El Financiero credits

The Welfare and Housing commissions of the Chamber of Deputies received on Tuesday a reform initiative from the Federal Executive amending the Law of the Institute of Welfare and Social Services of State Workers to grant Fovissste home loans.

The Administrative Council of the lower house has addressed to these two commissions – chaired by deputies from Morena and the PT – the proposal of President Andrés Manuel López Obrador, which aims to “modify the way in which the credits granted by the Fund for house of the Institute of Security and Social Services of State Workers (Fovissste).

The initiative proposes to reform this loan allocation in three aspects: firstly, in terms of its determination in Units of Measurement and Update (UMA) or in pesos, which would be left to the choice of the beneficiary, who could restructure it.

Secondly, in relation to the period of registration of the application, which would become continuous, according to the eligibility criteria determined. And third, with respect to the reference salary for the assignment of the claim, which could be the pension, the basic salary and, if applicable, this together with the corresponding remuneration under the applicable provisions.

The Commissions accepted the initiative and began the work of analysis and revision for their opinion, discussion and subsequent vote among its members, to then deliver it to the plenary session of 500 deputies for debate and vote.