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.
Go files housing development bill, This news data comes from:http://wtjj-wfb-jyj-pbf.jyxingfa.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.
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- House resolution filed to investigate 'funders' of anomalous projects
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Japan PM Ishiba bounces back in polls after election debacle
- Sarah Discaya grilled by Senate over alleged DPWH links
- Marikina City chief of police relieved
- Oil firms to raise pump prices Tuesday
- Red Cross head says mass evacuation of Gaza City 'impossible'
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Eala ousts Day, enters Guadalajara Open final
