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.
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://rmduuiyx.xs888999.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.
Go files housing development bill
- Lacson: Torre 'acted beyond his authority'
- 11 foreigners killed in Portugal funicular crash
- 'God's Influencer' to become first millennial saint
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- French parliament set to eject PM in blow to Macron
- Trump says he wants to meet North Korea's Kim again
- Islamic State claims deadly attack on Pakistan rally
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
