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://egnv.gangzhifhm.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.”
”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
- Gomez-Estoesta named court administrator by Supreme Court
- 'Large shark' kills man off Sydney beach
- One in four people lack access to safe drinking water – UN
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- MMDA prepares for PH hosting of FIVB
- PH Construction Board asked to address 'accreditation for sale' scandal
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
