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://771bg.com
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
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.
Go files housing development bill
- Bonoan resigned due to command responsibility — Marcos
- Can a giant seawall save Indonesia's disappearing coast?
- Public Works chief to press criminal charges against Bulacan engineer
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- IBP to form good governance panel
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Laws signed on holidays, court branches
- 40% of Filipinos are now obese, says Health expert
- Head of main US health agency abruptly dismissed
- DPWH exec fired, 2 others face dismissal over flood control mess
