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.
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://vud-niac-hb-sblt.ycyzqzxyh.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
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Budget shortfall narrows in July
- Marcos approves EO for commission to probe flood project anomalies
- ‘40% of Filipinos obese’
- China is showing off its weaponry in a tightly controlled military parade
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- PH has chance of getting UNSC seat - Manalo
- China displays its weaponry in a tightly controlled military parade
- 15 drug war victims cleared to join Duterte's ICC case
- 'God's Influencer' to become first millennial saint
