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://www.052298.com
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.”
Go files housing development bill
”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.
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Marcos lauds Alex Eala’s win in Guadalajara
- CFO moves office from QC to Pasay
- Duterte lawyer cites former president's failing health, urges return to PH after ICC postpones hearing
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Follow the trucks: Why investors are looking south of Metro Manila
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
