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.
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., This news data comes from:http://rqgf-ue-pab-uuse.xs888999.com
- North Korea's Kim oversees ICBM engine test — state media
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- International media protest over journalist deaths in Gaza
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- President pushes probe on flood control mess amid congressional inquiry
- China's Communist rulers push party role before World War II anniversary
- Duterte lawyers take aim at ICC prosecutor
- DILG denies allegations that PNP chief fired over firearms deal
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
