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://dc-gfi-xpkt-xmy.gangzhifhm.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.
Go files housing development bill
- Marcos opens WorldSkills Asean competition
- Van Gogh Museum 'could close' without more help from Dutch govt
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Palace suspends govt work, classes in several areas due to bad weather
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Mandela grandson says he will join Gaza aid boat
- Laws signed on holidays, court branches
- China's Xi holds talks with North Korea's Kim in Beijing
- Need to pee? Japan has QR code for that
