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.
Go files housing development bill
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.”
”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., This news data comes from:http://ip-hq-qkrj-xl.aichuwei.com
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Marcos, first lady visit Cambodia to boost ties
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- WorldSkills Asean Manila begins
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Eala writes another historic chapter in Philippine tennis
- Gomez-Estoesta named court administrator by Supreme Court
