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://pilpbeg.erlvyiwan.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.
Go files housing development bill
- Drones take on Everest's garbage
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Seoul says over 300 South Koreans held in US battery plant site raid
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Makati earns high rating in anti-trafficking and violence assessment
