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., This news data comes from:http://www.xs888999.com
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.
- Pope declares 'God's influencer' first millennial saint
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Modi, Ishiba agree to boost economic ties
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Japan PM decides to quit as opponents seek leadership election
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Lacson clears air over conflict with Marcoleta on flood control probe
