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.
Go files housing development bill
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://www.052298.com
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
”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.
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Co out of country for medical reasons
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Marcos signs laws declaring holidays across PH
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- PH eyes global partners in biggest railway project
