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.
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.”
”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://bes-vw-anf-uud.redcanaco.com
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Putin and Modi in China for summit hosted by Xi
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Classes suspended in 10 Metro Manila cities due to rains
- Angkas supports DICT's amnesty program for unregistered delivery services
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Trump moves to cut more foreign aid, risking shutdown
- Major social media sites back online in Nepal after deadly protests
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
