SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.”
”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., This news data comes from:http://705-888.com
- Immigration bureau declares war on fake Filipinos and illegal workers
- Meralco: Lower electricity rates expected for Sept
- Indonesia protests put spotlight on paramilitary police force
- Angkas supports DICT's amnesty program for unregistered delivery services
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- Peace efforts in limbo as Kyiv mourns 23 dead
- PH Army showcases disaster response capabilities before Thai defense officials
- Dizon requests for immigration lookout order vs ex-DPWH exec
- Lacson: DPWH exec sought ‘insertions’
- Customs recovers 10 more Discaya luxury cars
