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.”, This news data comes from:http://xsdogflx.gyglfs.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.
- 'Pink and green' protests call for a reset in Indonesia
- North Korean leader inspects new missile factory ahead of visit to China
- House resolution filed to investigate 'funders' of anomalous projects
- Gasoline, diesel price hikes seen next week
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Lacson to govt: Protect education budget
- Marcos signs law giving 99-year land lease to foreign investors
- Eala writes another historic chapter in Philippine tennis
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- ‘New NBI chief must be career official’
