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://www.705-888.com
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
- Court rules on subdivision open spaces, road lots
- Xi slams 'bullying' in speech to regional leaders at summit
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Drug war whistleblower Royina Garma returns to PH after US detention
- Bonoan resigns, Dizon named DPWH chief
- SpaceX scrubs latest Starship launch due to bad weather
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
