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.”, This news data comes from:http://vru-ux-mq-owhd.ycyzqzxyh.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
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Sen. Bong Go files bill for better health worker protection, benefits
- 'No way' US troops can invade Venezuela, says Maduro
- Court rules on subdivision open spaces, road lots
- Bishops demand broad probe into flood project corruption
- IBP forms committee on good governance to probe corruption
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- China's Xi holds talks with North Korea's Kim in Beijing
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
