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.
Go files housing development bill
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://orwh-qw-evcc-ly.erlvyiwan.com
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.
- Cusi charged over Malampaya deal
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Putin vows not to back down in Ukraine
- Marcos wants subpoena power for body investigating flood projects
- Two dead as strong earthquake jolts Afghanistan
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Follow the trucks: Why investors are looking south of Metro Manila
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
