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.xs888999.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.”
”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.
- Marcos urged to raise WPS resolution at UN
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Quezon City hails directive for national projects to get local permits
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Supreme Court: It’s work as usual in judiciary
- LPA may still develop into short-lived tropical cyclone
- Motive probed for US church shooting that killed 2 children, injured 17
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
