What new changes come with the reform of the Infonavit Law?

A series of changes are coming after the reform, already in force, to the Infonavit Law and the Federal Labor Law. Here we tell you more.

On February 21, the Official Gazette of the Federation (DOF) published the decree that reforms the Infonavit Law and the Federal Labor Law , to allow the organization to build housing to rent to its beneficiaries .

Query: Peso opens on Monday with a blow to the dollar in a complicated week

The decree came into force on February 22 and establishes that employer contributions to housing sub-accounts "are the property of working people" and together will make up the National Housing Fund .

Orders the creation of a subsidiary of Infonavit, in terms of commercial legislation, to build housing .

Within 30 calendar days following the entry into force of the decree , the general director of Infonavit, Octavio Romero Oropeza, must carry out the necessary acts for the constitution of the subsidiary company , and its purpose will be, among others: the construction of housing.

The majority of the shares in the construction company will be owned by the institute and "will be made up of resources from the budget for administration, operation and surveillance expenses authorized for the 2024 fiscal year."

Check out: PAN deputy proposes changing the name of our country (VIDEO)

The General Assembly and the Board of Directors of Infonavit, within a period of 180 days from February 22, must issue the rules according to which social rental housing will be granted, the rent of which does not exceed 30% of the net salary .

The decree cancels all resolutions approving collective credit projects in Line 3 for housing construction that the Board of Directors has adopted prior to July 1, 2023.

Composition

The Infonavit bodies are the General Assembly, the Board of Directors, the Oversight Committee, the Audit Committee, the General Management, the Non-Conformity Committee, the Transparency Committee and the Regional Advisory Committees, and these must be integrated within 30 calendar days following the entry into force of the decree.

The Ministry of Labor will be responsible for issuing, within 15 calendar days following February 22, the bases for determining the national organizations of workers and employers that will participate in the designation of the members of the General Assembly .

Don't miss: What items rose the most in price due to inflation in February?

The General Assembly is the supreme authority of the institute and will be composed of 30 tripartite members : 10 through the federal Executive; 10 through national organizations of workers, and 10 through employers' organizations . They will remain in office for six years and may be freely removed by whoever appoints them .

The Board of Directors will be made up of 12 members , appointed by the General Assembly: four proposed by the representatives of the federal government, four proposed by the representatives of the workers and four by the representatives of the employers .

The members of the Board of Directors may not be members of the General Assembly, except for the person in charge of the General Management who will be a member of both bodies.

* * * Stay up to date with the news, join our WhatsApp channel * * *

OA