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.
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://www.771bg.com
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.
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Nartatez vows to be fair in making reassignments
- 'I have no resentment,' says Torre after dismissal as PNP chief
- A summit and parade in China may signal a geopolitical shift
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- ₱1.7M shabu seized in Taguig buy-bust
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- NHA gives cash aid to families affected by calamity in Manila
- Malaysia warns TikTok vs cyberbullying, deepfakes
