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://ng-odp-jfiu-ujl.gangzhifhm.com
- Sotto files bill to amend party-list system
- Comelec probes 15 contractors for illegal campaign donations
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Duterte lawyers take aim at ICC prosecutor
- Former DPWH chief denies links to corruption
- Follow the trucks: Why investors are looking south of Metro Manila
- Comelec probes 15 govt contractors over 2022 election donations
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Customs preparing report on Discayas’ 28 luxury cars
