SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”
Go files housing development bill, This news data comes from:http://xs888999.com
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
Go files housing development bill
- DOJ indicts Abra Mining for fraudulent trading
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Thai Court: PM Shinawatra violated ethics rules
- Heavy rains flood parts of Metro Manila anew
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- China displays its weaponry in a tightly controlled military parade
- 'Strangest' dinosaur covered in spiked armory – scientists
- Rise in HFMD cases due to better reporting, not outbreak
- Israeli strikes in Yemen's capital kill six, Houthis say
- Iran says open to US nuclear talks, rejects missile curbs
