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.
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.”, This news data comes from:http://www.705-888.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.
- PH economic losses hit 100B from corruption in flood control projects
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Marcos, first lady visit Cambodia to boost ties
- Heavy rains flood parts of Metro Manila anew
- China's Xi holds talks with North Korea's Kim in Beijing
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Go files housing development bill
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
