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.
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.”, This news data comes from:http://kjh-pjbb-iggq-sxjp.yamato-syokunin.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.
- PNP chief Torre relieved from post — Palace
- 102-year-old becomes oldest person to summit Mount Fuji
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- DPWH exec fired, 2 others face dismissal over flood control mess
- Former Bulacan district engineer admits going to casinos
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Manila marks National Heroes Day with job fair
- US strike marks shift to military action against drug cartels
- Seoul says over 300 South Koreans held in US battery plant site raid
- Marcos urged to raise WPS resolution at UN
